Jet fuel price was today slashed by a steep 11.7 per cent while rates of non-subsidised cooking gas LPG were reduced by 25 rupees 50 paise per cylinder .Aviation Turbine Fuel (ATF) price in Delhi was cut by 5,469 rupees 12 paise per kilolitre , or 11.7 per cent, to 40,938 rupees 24 paise. Jet fuel constitutes over 40 per cent of an airline's operating costs and the price cut will reduce the financial burden on cash-strapped carriers.Simultaneously, the oil firms have also cut prices of non-subsidised LPG, which consumers buy after exhausting their quota of subsidised cooking fuel, by 25 rupees 50 paisa per 14.2-kg bottle.Non-subsidised cooking gas (LPG) price in Delhi has been cut to 559 rupees 50 paise per cylinder as compared to 585 rupees previously. AIR correspondent reports, the three fuel retailers – IOC, Hindustan Petroleum and Bharat Petroleum revised jet fuel prices and non subsidised LPG rates on the first day of every month, based on the average international price in the preceding month.