Speaking to ET NOW, MK Surana, CMD, HPCL said the company is trying to keep retail fuel prices stable despite volatility in crude prices. He is seeing some moderation in consumption in January due to the Omicron spike. On the current situation on petrol demand in the country, he said petrol consumption continues to be above pre-Covid levels. However, diesel consumption has taken a hit due to Omicron, but expect it to stabilise soon. Brent Crude above $80/bbl is not sustainable and he expects prices to come down. FY22 CAPEX target was Rs 15000 crore of which HPCL has already spent Rs 11,000 crore by Q3FY22. Marketing margins are reasonable right now, he concludes. Watch the full interview here.
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