Fuel Payment Shock: IOCL, BPCL, HPCL Demand Advance Amid West Asia War
MMoneycontrol•17-03-2026, 08:34
Fuel Payment Shock: IOCL, BPCL, HPCL Demand Advance Amid West Asia War
- •State-run OMCs IOCL, BPCL, HPCL have suspended credit for fuel supplies, now demanding advance payments from retail outlets.
- •The move is a direct response to global crude supply chain disruptions caused by the West Asia conflict and closure of Iran’s Strait of Hormuz.
- •HPCL and BPCL began insisting on advance payments last week, while IOCL halted its five-day revolving credit policy on Monday.
- •This shift impacts nearly 100,000 petrol pumps and bulk buyers, though electronic dealer finance (15-30 days) remains available.
- •Despite the change, the Petroleum Ministry assures stable supplies, high refinery capacity, and no immediate shortage of petrol or diesel.
