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Fayetteville, N.C. — Some rural gas stations in the Cape Fear region have stopped selling fuel, and others are considering the move due to the fees they have to pay credit card companies for each sale.

The fees average 3 percent of the amount customers charge with a card. At $4 per gallon, the fees cut into already slim profit margins.

The Fayetteville Observer reported Thursday that Tony Coats, owner of Tony’s Amoco and Grill in Roseboro,

says he may have to end a 50-year tradition and stop selling gas whether prices continue to rise. Coats said an alternative would be to stop taking credit cards.

Fayetteville gas station owner Bobby Wiggs Jr. says customers think he and other owners are making a lot of money with gasoline at $4 per gallon. However, Wiggs said he loses money whether he takes credit cards at the self-service pump.

Orginal post by CreditPro