[outfield]

Good summary of the issue. Hearings start today on the issue of these hidden fees and Visa/MasterCard's anti-consumer, anti-merchant practices.

[Gene Eric]

Higher resource costs inevitably reduce sales volumes with tighter margins and typically yields lower net.

[Damocles]

I finally figured out how to avoid those irritating fees. I cut up all my credit cards and will never use them again. Works every time.

[KarlInOhio]

This is pretty simple. If the gas stations can make more money by going cash only and not paying the credit card fees, then they can go cash only. If they'll lose a lot of customers by making everyone go inside the station, pay, pump and then return to the station to get their change, then they'll keep the credit cards.

Now why is Congress having hearings about this at all? I don't see it anywhere in the Article I Section 8 powers given to Congress.

[OrioleFan]

Heard on the radio earlier this week, if gas goes above $4, find stations with older pumps that can’t go above $3.99.

[Retired Greyhound]

I am in the merchant services business. So what, now congress is going to mandate the rates I can set?

[AmericanExceptionalist]

We consistently use our Discover Card for gasoline purchases, as it pays a 5% Cashback Bonus for fuel (as well as miscellaneous auto services and repairs). And since we pay off the bill in full each month, so that there is no accrued interest, it works nicely.

[Bob Buchholz]

Of course the gas stations are making a ton of money! Since the price has been goina ONLY up, they make an extra profit on every gallon in their storage tanks when they raise the retail price. This will continue ony as long as the prices rise. Once they stabilize their profits will stabilize and if the prices start to fall, then they will lose their profits as they have to sell at or below their costs. That is the main reason that prices are quick to rise, but slow to fall.

[Righter-than-Rush]

One reason I don’t need credit cards anymore. Solved.