Toledo area gas stations cut prices for drivers using cash
01.07.2008 10:12
Shopping
- Source: toledoblade.com
Looking for a deal at the gas pump? Increasingly, that may mean carrying a wad of cash. At least two Toledo area gas station owners offer discounts to customers who pay cash instead of using a credit card - a transaction that can cost gas station owners 9 to 12 cents a gallon in "interchange" fees. "When gas was under $2 a gallon it was OK," said Sam Baiz, manager of the BP station at Secor Road and Dorr Street, which last week began offering a 3-cent-a-gallon discount to customers who pay in cash. "But now we're losing a lot of money because more people are using credit cards. Even at 3 cents off we're still hurting, but with this idea we're trying to get people to think about using cash." At the Firebird gas station on Alexis Road at Douglas Road, owner Arvind Reddy Toughtreddy sold the fuel two weeks ago at a discount of 5 cents a gallon to customers who paid ion cash. He said yesterday he plans to increase that to 6 cents and hopes more people pay cash because each credit card transaction costs him 9 cents a gallon. "It's really working, so I thought this might help," he said. Mr. Baiz said credit card companies charge his BP station 8 cents a gallon on gas purchases. Previously, when gas was less expensive, more customers paid in cash but that changed when fill-ups began costing $40 to $70. | CHECK PRICES
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