Indian state-owned oil refining company requires prepayment at gas stations.

The state-owned fuel refining companies in India are now requesting gas stations to make advance payments for gasoline and diesel, as they are facing significant revenue losses due to retail sales. About 90% of gas stations nationwide in India are affiliated with state-owned refining and retail companies such as Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation. These companies are suffering heavy blows from the depreciation of the rupee. Additionally, despite global oil prices skyrocketing to over $100 per barrel due to disruptions in the supply from the Strait of Hormuz, the Indian government has not raised the retail prices of gasoline and diesel in order to protect consumers.