NEW YORK (AP) -- Gas prices may be sitting near record levels, but the owner of your local gas station quite likely is struggling.Profit margins on gasoline sales are razor thin. Indeed, some gas stations are losing money on credit card sales, once the fees are factored in.
How do they stay in business? More and more a gas station's bread and butter is, well, bread and butter -- and the coffee and candy bars it sells in its convenience store. Most of these items generate much higher profits than gas.
"Gasoline is a relatively low margin part of what we do," said Jay Ricker, president of Ricker Oil Co. in Anderson, Ind.
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