Quote:
Originally Posted by Pineedles
Have they started with the cash or credit pricing like here in CT & MA Difference can be as much as a dime a gallon. Cash price for regular this morning here in CT at a Citgo station is $1.93. I think they all are gouging though, $140 p.b. of oil down to $40 and they can't get the price under a buck, or close for that matter? Give me a break.
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It's not the stations, it's the wholesalers (i.e., ExxonMobil, Citgo, yes, even Irving). They set the price, and the stations have a very slim and relatively constant profit margin.
The cash vs. credit price is because there is actually a difference in overhead for the station between cash and credit. Debit card companies often charge a flat fee per transaction, and credit card companies often charge a per-gallon fee (some as high as 10 cents). It saves the station money to encourage you to pay cash, and that savings is passed on to you.