“There is a possibility of higher inventory gains if crude prices remain at current levels,” said MK Surana, CMD of HPCL in an interview to CNBC-TV18.

HPCL’s volume sales rose 4-5 percent in November over October.

“Year on year, if I see November, we should be down around 6-7 percent compared to November 2019 but we need to account for festive timing and assuming that there is not serious scare of further waves of COVID, I think the petrol demand should improve and diesel is improving, but let’s see to what extent,” added Surana.

For entire interview, watch video