Sunday, September 07, 2008

WJON State/Regional News


Independent gas stations in Minn. struggling
by The Associated Press

MINNEAPOLIS -- Independent gas stations are taking the high gas prices a little harder than others.

Steve Williams of Bobby & Steve's Auto World says his margins and profitability are the smallest ever, despite operating eight locations.

And Williams says even smaller operations are calling him hoping Bobby & Steve's will buy them out.

Gas station owners say one of the biggest problems is the high fees the stations pay to credit card companies when customers pay at the pump. Williams says it's about 2 percent of every transaction, and at least three-quarters of his customers pay that way.

Two bills have been introduced in Congress that would allow stations to renegotiate the fees they pay the credit card companies.

Meanwhile, gas station owners are trying to think of new ways to get people to spend money in their convenience stores.
 


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