W.Va. Gas Station Bans most Credit Cards

June 16, 2008 7:38:37 AM PDT
Rising gas prices have led one West Virginia gas station owner to ban the use of credit cards at the pump, and he may not be the last to do so. Mr. Ed's Chevron in St. Albans has told customers they can no longer use credit cards to pay for gas, unless they use Chevron or Texaco cards.

The reason is surcharges. Credit card companies charge stations fees when customers use plastic, and as gas prices rise, more people are using their cards. That means more fees, and shrinking profits.

Manager Roger Randolph said that every time someone puts $50 worth of gas in the tank, the station actually ends up losing about 98 cents on the deal.