New Delhi: Crude oil supplies have been cut following the attack on Saudi Aramco, the world's largest oil-producing company. Due to which there has been an increase in oil prices worldwide. After this attack in India, there has been an increase in oil prices. This attack has added to the difficulties of Air India which is under the burden of debt. Due to the rise in oil prices, the monthly fuel bill of India can increase by Rs 50 crore. The monthly bill of the state-run airline is close to Rs 500 crore.
A company official said that if the price of crude oil rises by 10 percent from the current level of $ 60 per barrel, then the airline's monthly fuel bill will increase by Rs 50 crore. The official said that the increase in crude oil prices will also increase airfare. He informed that fluctuations in foreign exchange rates will also increase the cost of fuel as it has to be paid in dollars. However the company was expecting profits in this 2019-20. But this episode has shocked its hopes.
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