Sign Of The Times: $100 "Pay At The Pump" Limit

Reader Paul sends in this photo of a sign he saw at a gas station in Texas. First people were upset that gas stations were putting “outrageously high” holds of $100 on their cards when they paid at the pump. Now $100 is just the most you can buy at the pump without going inside and having them swipe your card. Sad.

Here’s a Washington Post article about consumers who aren’t able to fill their gas tanks for the usual (former?) “pay at the pump” limit of $75.

One expert explains:

The average station makes a profit of $60 at the pump per day, says Jeff Lenard, a spokesman for the National Association of Convenience Stores. “It’s not uncommon to lose money selling gas. So the idea of losing $20 or $50 [in charge backs] is too much.”

Stations “are faced with two bad options — allow the pump to go beyond $75 and risk not getting paid . . . or take a customer from frustrated [with gas prices] to outright anger,” Lenard said.

At the Pump And Past The Limit [Washington Post]