After three consecutive hikes, state-run oil companies today reduced jet fuel or ATF prices marginally by about one per cent in tandem with international rates for the same.

Indian Oil, Bharat Petroleum and Hindustan Petroleum cut aviation turbine fuel (ATF) price by Rs 311 per kilolitre in Delhi to Rs 31,615 per kl with effect from midnight tonight, an IOC official said. The three firms, which revised jet fuel rates every fortnight based on trends in international markets, had on April 16 increased ATF rates by about 6.7 per cent.