The Jamaica Gasolene Retailers Association (JGRA), says as of October 1, service stations will no longer accept Master or Visa credit cards for fuel sales.
However, it said traditional debit cards will be accepted.
In August, members of the association agreed to stop accepting credit cards as part of cost saving measures.
The JGRA has complained that the unacceptable processing fees charged by financial institutions are sometimes higher than profit margins.
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The Ministry of Science Technology, Energy and Mining (MSTEM) is mulling a change in how gas stations are licensed.
Out of a meeting between sector interests and Minister Phillip Paulwell on Monday, MSTEM said in a statement that the current licensing system may be contributing to the low margins that service station operators are now experiencing.
“On the issue concerning the inadequate profit margins being realised by the retailers, it was agreed that the number of service stations and their proximity to each other is contributing to the low margins,” the ministry said.
“Currently, the service stations are licensed by the Resident Magistrate courts and not by the ministry. The minister updated the meeting of the progress towards a one-stop-shop for licensing and registration of sector participants will help to resolve this problem.”
Monday’s meeting – which included representatives from the Jamaica Gasolene Retailers Association, and the National Workers Union, which represents tanker drivers and petroleum haulage contractors – centred on discussions about averting a shutdown of the petroleum sector.
MSTEM said going forward, the bi-monthly Petroleum Advisory Council would resume, starting in October.
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