"It will not be the travelers, but carriers who will have to take the brunt of rise in fuel prices," said Ajay Singh, Chairman and Managing Director of SpiceJet Ltd.

As per a Live Mint report, Singh said that the carrier companies will have to bear the price rise at the cost of their profits.

"So far we have been able to pass on the increase in oil costs to passengers… we don’t know the answer if this will be passable to passengers if oil hits as high as $100 a barrel,” Singh was quoted saying in the report.

With crude oil prices closing in on the $100 per barrel mark, Singh opined that the government should cut taxes on jet fuel to bring them on par with international prices, the report said.

Further, he said that jet fuel should be brought under the Goods and Services Tax (GST).