Tuesday, June 26, 2012
Gas retailers say ‘swipe fees’ fuel higher prices, siphon their profits
Although Maryland’s retail gas prices were lower than the national average in 2011, consumers are still getting hit at the pump — for paying with plastic rather than cash.
A growing practice is to offer cash and credit card prices to combat increasing numbers of credit card users, rising gas prices and high “swipe fees,” transaction fees set by credit card networks for banks.
Although credit card prices may differ as much as 5 cents from cash prices, gas merchants are “within the law,” said Joe Shapiro, a spokesman with the comptroller’s office, which regulates gas stations.
“The legal requirement is to advertise the lowest price for regular gas,” Shapiro said. He said the comptroller’s office has not received many complaints about the practice.
Some consumers, however, say they feel deceived.
Read more: http://marylandreporter.com/2012/06/25/gas-retailers-say-swipe-fees-fuel-higher-prices-siphon-their-profits/#ixzz1yvgNSuts
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The lowest price for fuel trailers of fuel must really be what is offered on advertisements so as to invite the public to buy. However, there are additional costs that are needed in some circumstances such as when using a credit card. I think this has already been a common practice that people should not complain much about it. I hope they have already settled this.
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