Ex-Hindustan Petroleum chief busts 'myth' about ethanol making petrol cheaper

MK Surana, former Hindustan Petroleum Chairman, has busted the "myth" that blending ethanol with petrol will lower fuel prices. "Ethanol costs between ₹56.71-₹71/litre, while ex-refinery price of petrol was almost ₹53/litre. As far as OMCs are concerned, the answer is 'no', because ethanol is costlier than petrol for them," Surana said. Ethanol is like a "hedge" for OMCs, he added.