Jet fuel prices were today slashed by 3 per cent on back of rising rupee, the second reduction in rates this month that will ease burden on cash-strapped airlines. This will be effective from midnight tonight.

Aviation Turbine Fuel price at T3 terminal in Delhi was cut by 2,117 rupees per kilolitre or 3 per cent, to 68,399 rupees per kilolitre with effect from midnight tonight, according to Indian Oil Corp.

Prior to these cuts, ATF price were hiked on five occasions since July.