Walmart Rolling Back Prices at the Pump

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Walmart, the company known for rolling back prices in its stores, is now rolling back prices at the pump. Commuters in 21 states can now save as much as 15 cents a gallon until July 7.

"We hope that the rollback helps customers put a little extra money in their wallet. We know that 10 to 15 cents a gallon really makes a difference," Walmart media relations spokeswoman Molly Philhours said.

The only stipulation is that consumers must purchase the gas using a Walmart credit card or money card. Experts say the new program is a result of low sales.

"Walmart's sales have been flat for nearly three years, and consumer reports rated Walmart as one of the worst-rated retailers in the U.S.," Burt Flickinger, a retail analyst with Strategic Resource Group, explained. So Walmart with lower prices is trying to get shoppers back."

Walmart blamed January's tax increases for a tough start to this year. But competitors like Costco aren't helping sales either.

"Walmart views Costco as Walmart's worst nightmare, whether it's in North America or any other area of the world where the two go head to head," Flickinger said.

Nevertheless, with gasoline prices accounting for roughly 4 percent of the average American's budget, 10 to 15 cents off a gallon won't go unnoticed.

"Hopefully, it's good quality," consumer Makiah Louis remarked. "Walmart's known to be affordable mainstream."

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Charlene  Aaron

Charlene Aaron

CBN News Reporter

Charlene Aaron serves as a general assignment reporter and helps anchor for the CBN News Channel.  Follow her on Twitter @CharNews and "like" her at Facebook.com/CharleneIsraelCBNNews.