The raising retail petrol prices at the pumps have been hurting the dealers as well as consumers. President of Petroleum Dealers Association of Malaysia Alang Zari Ishak mentioned in a report to Bernama on Monday that dealers have had to pump in extra working capital to purchase stocks that don’t contribute to revenue.
Petrol dealers currently get 8 cents sales margin per litre of petrol and 3.5 sen per litre for diesel. These figures have not changed since 2001, even though fuel prices have been hiked a few times.
This low sales margin combined with a higher working capital requirement to purchase petrol have been hurting the dealers financially.
One way they have found to cut loses is cutting credit card commissions. This means stopping credit card transactions.
Currently 35-50% of petrol sales are paid for by credit card, with the value ranging from station to station and area to area.
Banks charge 1.25 percent commission for petrol purchased via credit card. For example, for every litre of diesel purchased using a credit card, 1.601 sen went to the bank as credit card charges while the petrol station operator made a net profit of just 1.899 sen.
The petrol stations association have said they will stop accepting credit card payments for petrol if the bank charges are not reviewed.
Source: Malay Mail, Bernama
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ayark susah la for me.takut nak bawak cash banyak2.
Oh! nO!! I want to use CCard. Easy and can earn Bonus points!
Now have to go ATM more to get CASH!! F**K
Dang… using the card is more convenient than cash. Oh well….I think there should be other solution(s) to this. I hardly believe cutting credit card comission is the only way. If I'm not mistaken gas station operators make more profit on the retail shop than the petrol/diesel sales. Anybody has information on that one?
aiyaaaa byk susah loooooo……. no more petronas IKLAN lo……..
funny then….
all those advertisements show with using credit card….apa macam….
crazy fella……earn so much dy…..not enof ar…..
btw….i bet the best solution is the bank should remove the charge on CCard paid in petrol station….
or else…..they better setup ATM machine in every petrol station….
every bank…..
we see which one more costly…
walauyeaaaa .. sure or not……. wan mehhhhhhh like that… where cannn
to increase revenue for petrol staition…. got more ways then cutting credit card….. they must have new ideal n new product
2ndly.. the security is not that yet.. too much cash in the station… jaga jaga,, the perompak.. will eyeing on them… still credit card better..
hey why not ask Shell Bhd, Petronas Daganggan & EssonMobil to charge the petrol station proprietor CASH for the delivery of the fuel too !!!??????
Its easy for them to say it……….. If we consumer have to pay CASH for fuel then rightfully they should pay CASH to the big 3 petrol supplier. Lets see who's having the last laugh then !!!
10,000 litres of petrol (per tanker) X RM1.42 X number of deliveries a day = GO FIGURE !!
if that happens, if i'm one of the retailers, i'll take advantage by still offering use of credit card, hehehehe
if they're creative and use the cash for ah-long side business, sure ok wan..
together we close down our credit card account. Our act will scare the credit company to hell.
simple solution.
continue to offer credit card payment.
cash payment give a small discount.
this will make customers switch to CASH.
??? go figure ??? they're running a business wah… if nobody want to accept cc, then better I go open a station, I'll accept cc and for sure everybody come to my station! haha…
Api-chai, currently to buy those 28,000 litre (the smaller ones) or 32000 litre (the largest ones) require cash. This is why the operator bising! The bank pay 3 days later for the card transaction. With some charge. Good. Now, that you know, whenever you see the station says "Minyak habis, lambat hantar" and you see the ciggarettes stocks running very low (or no stocks at all) this means the station operator got no cash ma… Rokok transaction also need cash term only.. cannot delay2 wan…
what will you do. If credit card company started to charge us 2 – 4% of the total petrol we pump.
Will you still use credit card to pump petrol ?
Actually api-chai does have a point, my old man used to operate a station before and the gas companies will deduct your deliveries from your collateral to bank (in form of bank guarantee or overdraft) so the bank will chase after my old man end of the month.
But I dunno the current practice as my old man left the industry decades ago, so things might changed
hahahhahah.. cut up cc loooooo… sure bank die punya….hahahahhahaha
bankers always make money on credit cards – they should be reduce their charges and hopefully increase usage of credit card. then the bankers would make more money on interest when most people only pay the monthly minimum instalment.
they should be reduce their charges and hopefully increase usage of credit card. then the bankers
ahha…i guess Brands like BP, EXXON, SHELL & ESSO is the only stations that will still accept credit card as they are accepted worldwide….not like Petronas……I am sure of that! hehe…..
shit… if that is true, I will have to carry CASH which I do not like to carry too much of then. Plus I earn points when I use Credit card. sigh
Every business has its own working environment and working risks.
When they (Petrol station and its association) hired foreign workers and cut workforce, and we have to “self service†few years back, do they refund part the money to us?
All the petrol stations were just silent!! Because they could making more money by minimizing the cost.
Now when some uncertainty erodes their profit, they are making noise.
It is their matter with the bankers.