Very interesting article at easy finance blog WiseBread on how gas pump manufacturers back in 1995 created pumps that cannot charge over $3.99 The convention is/ was that gas would NEVER go that high. Well……they were so wrong.

[photo credit - flickr]

Mostly these pre-1995 gas pumps are located in small towns and other backwood places. What these gas station owners are faced with, is either install new gas pumps (which is costly and out of the question for many) or simply tell customers “the price shown is wrong”. Hmmm. This is going to be quite the issue in the coming months ahead.

What happens if you fill up thinking you’re getting $3.99 a gallon, then the gas shop owner tells you “hey its really $4.14 a gallon, the pump price is wrong”. What on earth!

Fact is 1995 is not that long ago, how could manufacturers put such a low price in effect for the computers in gas pumps. Did they really feel oil would never skyrocket the way it has? Well regardless, this is the current situation for many small town gas station owners.

The government is giving these owners a break for now, by giving them ample time in replacing the older pumps, but eventually they will have to comply with the law. As it is illegal to not display gas prices.
(or incorrect prices)