U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-21-2008, 07:56 PM
 
Location: West Michigan
654 posts, read 3,160,212 times
Reputation: 568

Advertisements

Quote:
Originally Posted by KevK View Post
But that is true of most retail stores too. You can go into Sears or Wal*Mart and buy a $2000 big screen and run your card through the charge thing and they do not even ask for ID. You can probably even go through the self checkout and do it. Really the credit card business is sooner or later going to have to adopt a PIN code to use it like an ATM card does.
At the Walmarts out here, when you use the card as charge they do request to see ID, however if you use it as debit then they don't bother you about it.
Reply With Quote Quick reply to this message

 
Old 06-21-2008, 08:44 PM
 
69,360 posts, read 57,147,172 times
Reputation: 9371
Quote:
Originally Posted by KevK View Post
But that is true of most retail stores too. You can go into Sears or Wal*Mart and buy a $2000 big screen and run your card through the charge thing and they do not even ask for ID. You can probably even go through the self checkout and do it. Really the credit card business is sooner or later going to have to adopt a PIN code to use it like an ATM card does.
Well at Wal-Mart, I would have a greater chance of being asked for ID, then at a gas station where there isnt someone to even ask, its just a machine.

Yes, I think the answer will eventually come down to a PIN code once the problem gets to bad.
Reply With Quote Quick reply to this message
 
Old 06-22-2008, 01:49 AM
 
Location: Cicero, NY
625 posts, read 1,658,605 times
Reputation: 221
Quote:
Originally Posted by bxlefty23 View Post
they are losing money when people pay with credit cards
what is the point of making a sale that loses you money?

They do for a few reasons--customer convenience, fleet sales, and if they are a franchisee they have too

When gas wasnt as expensive it wasnt so bad for these dealers because they are charged a fixed percentage(BTW Amex charges the most) of the sale, so it the dealer is making 5-15 cents a gallon they can afford it more easily, for example

Car pumps 10 gallons at $1.19
Total gross sale=$11.90
Dealer makes 1.50 (based on .15 margin)cents profit before CC fee
Credit Card fee .59 cents (5% fee)
total net profit .91


Car pumps 10 gallons at 4.19
Total gross sale= $41.90
Dealer makes $1.50 cents profit before CC fee
Credit Card fee 2.095
total net profit -.595

most gas stations dont make alot of profit on gasoline, the bulk of the profit comes from inside sales (store--soda, chips, etc), most margins run anywhere from 15%-75%(75% in case of fountain soda and coffee). But if the street price for gasoline is too high you will see the store sales drop because most of purchases made at a c-store/gas station are impulse sales.
Reply With Quote Quick reply to this message
 
Old 06-22-2008, 09:15 PM
 
8,240 posts, read 15,545,589 times
Reputation: 3680
Quote:
Originally Posted by jrice View Post
most gas stations dont make alot of profit on gasoline, the bulk of the profit comes from inside sales (store--soda, chips, etc), most margins run anywhere from 15%-75%(75% in case of fountain soda and coffee). But if the street price for gasoline is too high you will see the store sales drop because most of purchases made at a c-store/gas station are impulse sales.
Shrug. Sounds like the stations need to renegotiate their contract with their suppliers. They seem to be doing pretty well.
Reply With Quote Quick reply to this message
 
Old 06-22-2008, 09:25 PM
 
69,360 posts, read 57,147,172 times
Reputation: 9371
Quote:
Originally Posted by mimimomx3 View Post
Shrug. Sounds like the stations need to renegotiate their contract with their suppliers. They seem to be doing pretty well.
Your basing your statement that "they seem to be doing pretty well" based upon what?
Reply With Quote Quick reply to this message
 
Old 06-23-2008, 09:55 AM
 
26,662 posts, read 40,645,423 times
Reputation: 14770
If too many gast stations will close, aren't the suppliers not taken action to prevent this from happening....it is their income too.

IMO we still have enough gas stations..if you look at some intersections there are 4, one on each corner....IMO ridiculous but maybe there is another explanation for it...since not all 4 stations are having business all the time...IMO we don't need all of them...they probable started because it was easy money back in the time as a friend of mine explained. His parents own several and all they had to do was hire people and cash in, and they got so much money off these stations, so now they earn less.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 07:00 PM.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top