Middle East conflict: Oil companies seek advance payments from petrol pumps as global crude price surge squeezes margins
State-owned oil marketing companies have started asking petrol pump dealers to make advance payments for supplies of petrol and diesel, as refiners grapple with mounting revenue losses from retail fuel sales, according to a Reuters report.Nearly 90% of India’s about 1,01,470 fuel stations are linked to public sector refiners and retailers – Indian Oil Corporation,…