Some gas station owners in Wisconsin have stopped selling gas because of the high prices. Apparently, the high prices are forcing them to run with profit margins of less than $0.03 a gallon and that is usually eaten up by credit card processing fees.
The article says that, at 3% per gallon of gas sold, credit card processing fees are the second biggest expense to the gas station.
Doesn’t it seem reasonable that this is just going to drive prices up further? After all, with competition closing up shop, the guy across the street can afford to raise his price without fear that the customer will go elsewhere. This also solves his margin problems and brings him/her back into the black.
Here’s a link to the original Article: