“Dozens protest gas credit card costs” (via OC Register)

Via The Orange County Register

July 3rd, 2008, 1:07 pm · posted by John Gittelsohn

About three dozen demonstrators waved signs asking motorists to honk in support of what they billed as “The Great American Protest Against MasterCard and Visa Fees on Gasoline.”

The protesters complained about how credit card companies charge retailers high fees for each purchase, adding 8-10 cents to the cost of a gallon of gas — a cost that is often passed on to consumers.

“By the time we’re done paying credit card fees, there is no profit left and it’s not fair,” said Navdeep Bassi, whose family owns 15 7-Eleven stores — four that sell gas — in Orange County. “We don’t want to have to charge customers for using credit cards. But now we’re at the mercy of the credit card companies.”

Credit card companies contend they are reducing their fees in response to complaints, but they deny they are charging too much or colluding against retailers.

The protest was organized by Mitch Goldstone, owner of an Irvine photo shop and lead plaintiff in a class action law suit accusing credit card companies of violating antitrust laws by charging fees of 1.5 to 2 percent per purchase.

Register photographer Kevin Sullivan, who shot pictures of the protest, said Goldstone provided boxes of free donuts to keep the demonstrators fueled up.