Feel like you're getting gouged at the gas pump amid rising prices? You actually are if you're using a debit card. Despite last year's banking reforms, gas stations have yet to pass along more than $1 billion in debit card transaction fee savings to consumers.
As soon as oil prices rise, it takes little time before drivers begin to feel the pain at the pump. But it takes far longer for price decreases to reach consumers. Here's why.
Men, who have endured slightly higher unemployment rates than women, have been taking on more of the household shopping, according to a recent report. The trend hasn't boded well for stores: On average, men spend less than women on each trip.
BP, responsible for the worst oil spill in U.S. history, is offering gas station owners who do business under its name between $50 million and $70 million in financial help.
American consumers are voicing their disgust with BP the only way they can -- by not buying gas sold under the oil company's name. Despite their good intentions, however, it turns out that independent businesspeople own the vast majority of BP stations.
Oil prices are showing signs of moderating, with a barrel of crude now worth about half of its all-time of $147 a barrel in 2008. But U.S. motorists may not benefit much at the pump. Refiners are expected to restore their margins that got squeezed during the recession.
