Maritime gas stations offering incentives for cash and debit

It might not look like a huge savings at first, but when it comes to filling up your tank, every little bit helps.

“If you can save on gas, which will get you to the same place, then you can spend more on other things that are essentials like groceries,” said Phil Sonier. “If you can save a bit of money here and there, like I said, it’s worth it.”

Colin Hopson refers to his truck as a diesel guzzler, so saving three cents a litre by paying cash or debit instead of credit at Race Trac Gas in Moncton, N.B., is a nice treat.

“I just saved $1.94,” he said. “That $1.94 might buy me some milk or whatever, but it does go a long way when you’re putting a lot in that’s for sure.”

Canadians for Affordable Energy president Dan McTeague says gas stations offering a discount or incentive is common practice in many parts of North America and very common across the border in the United States.

He says it benefits both the drivers and the stations themselves.

“Given that gas stations, not the credit card issuer, not the oil company, but in fact the retailer pays for, along with the loyalty programs that can work up to four, five, six cents a litre, as well as having to pay the one, two or three per cent that’s involved with honouring credit cards, often gas stations feel as if they’re losing if they have a combination of those two things, so by offering cash, sometimes consumers find that a much better option,” he said.

Additionally, McTeague points out that since this could help draw more drivers to the pump, retailers would likely get a better discount if they can move more volume.

“If cash is king, and you can save three cents on a fill up of say 60-65 litres, that’s $2. You do that once a week, that works out to $120-130 a year,” he said.

In Halifax at Wilson’s gas station, drivers were able to save five cents per litre when paying with cash or debit Friday.

Drivers reported saying between $1-3 per tank and said they go out of their way to fill up at that specific station.

“A lot of people do care and three cents over a period of a year, you save $120, $130, $140 that’s a lot and it can make a big difference because it works out to two tankfuls in many instances,” said McTeague.

There’s also a chance those savings could become even more enticing for drivers across the Maritimes.

“My prediction for Atlantic Canada is to expect an additional 15 cents/litre between now and the July 1st long weekend,” said McTeague. “Brace for impact. It could be a lot higher than 15 cent/litre, but one way or another we’re looking at a much higher correction in terms of prices and prices in 2024 will probably go down in record for being the second most expensive next to 2022.”