WHAT GAS STATIONS AREN'T TELLING YOU - Thursday, March 26, 2009
With the state of the economy in turmoil people are looking everywhere to cut
back. Granted, gas prices have always been a focal point for savings – more and
more individuals are now scrutinizing the prices of every gas station that they
pass.
If you are one of these individuals, being knowledgeable about how
gas stations make their money will help you guard your wallet and more
importantly – avoid being ripped off altogether.
Inside the Gas
Station Business
Most gas stations earn an average of 10-15 cents
per gallon of gas. Interestingly they earn the least when prices are at their
highest. This is due to having to remain competitive with the other gas
stations. The only way they can remain competitive is to shrink their profit
margins. People mistakenly believe these stations are making a killing when gas
prices are that their highest – no so.
Credit card companies typically
charge stations around 5 cents per gallon (based on a $2 gallon). But when
prices increase, so do the fees. Along with a shrinking profit margin, this
really hurts gas stations. You can bet they will pass the expense on to the
consumer – probably from that cup of coffee or candy bar you just bought from
them.
Don’t use a debit card at the pump. When you insert your card -
many stations have asked banks to put a hold on some additional amount in your
account -- as they have no idea how much you’ll be spending until your done
pumping. The amount can vary from a hold of $20 to a $100. Sometimes the station
doesn’t deposit their transactions for days – which would lift the hold at that
point. If you are running low on your checking account, it would be extremely
easy to overdraft – assuming you have a certain amount available when in fact
you do not.
One brand of gas is no different from the next. Since 1994
the government has required that gasoline must include detergents to prevent
fuel injectors from clogging. State and local regulators keep a close watch on
this. So don’t spend your money on Chevron’s “Techron”, for example, assuming
your getting a better gas.
Just because the pump says you’re getting a
gallon, doesn’t mean you are. The pumps can and often are manipulated by
unscrupulous characters. The state or county weights and measures departments
are in charge of checking pumps – but many of these offices are severely
understaffed for the amount of gas stations that are out there. It can take
years before the inspector shows up again at the same station. The risk usually
runs higher with gas stations in rural areas more so than in the cities.
Each gas station is charged differently from their supplier depending on
competition and location. The ones that are charged more will then turn around
and charge the customer. It pays to shop around.
Finally – check the
internet for cheaper gas station in your area. Good sites to go to are:
GasBuddy.com, GasPriceWatch.com and GasWatch.info.
With the state of the economy in turmoil people are looking everywhere to cut back. Granted, gas prices have always been a focal point for savings – more and more individuals are now scrutinizing the prices of every gas station that they pass. -
A thief relies entirely on time. The longer it takes to break in – the less likely you will have your car stolen. The staff at BuySellYourCar.com would like to provide some important tips so that you don’t become a statistic. -
