Gas prices are on the rise nationwide, which is impacting consumers and businesses alike. While there are many factors that contribute to gas price increases, should your method of payment at the pump have an impact on the price you pay?
“With gas prices going up every day, consumers are concerned about the rates their local service stations are charging,” says Paula Fleming, vice president of communications and marketing at BBB. “It is common to see a different price posted for cash sales and it is legal for gas stations to do this.”
State law allows gas stations to discount their prices for customers who pay with cash. However, when a discount is offered, the word “cash” should be included in the signage. Both cash and credit prices should be posted and clearly labeled. Guidelines for advertising and signage for the cash sale option can be obtained from each state. Contact your state Attorney General’s Office for concerns regarding price discrepancies.
There are several laws surrounding gas pricing. Gas stations must accurately display their prices and gasoline can’t be sold at any other price than the one posted at the pump at the time of sale. Competitors can’t fix or manipulate prices. Mergers that result in reduced competition are monitored by the Attorney General’s Office.
To find the lowest gas prices in your area, do some research before filling up. There are several websites like fueleconomy.gov
, that help identify rates at local service stations. You can also use the BBB Accredited Business Directory
to find trustworthy stations near you.
For more consumer advice you can trust, visit boston.bbb.org