Jet fuel prices were on October 15 cut by 3 per cent on back of rising rupee, the second reduction in rates this month that will ease burden on cash-strapped airlines.
Aviation Turbine Fuel (ATF) price at T3 terminal in Delhi was cut by Rs 2,117 per kilolitre (kl), or 3 per cent, to Rs 68,399 per kl with effect from midnight of October 15 , according to Indian Oil Corp, the nation's largest fuel retailer.
The reduction, which comes on back of a steep 4.3 per cent (Rs 3194.72 per kl) cut in rates effected from October 1, was possible as rupee firmed up against the US dollar making and cheaper international oil.
Prior to these cuts, ATF price were hiked on five occasions since July.