Jet fuel prices were cut by 5.3 per cent on Wednesday. This is the second steep reduction in rates in a month. Aviation Turbine Fuel, ATF, price at Delhi was cut by 3,545.94 rupees per kilolitre to 62,649.95 rupees per kilo litre, according to Indian Oil Corporation. The reduction in rate was possible due to declining international oil prices.In Mumbai, jet fuel will cost 64,624.69 rupees per kilo litre as against 68,331.91 rupees per kilo litre previously.No immediate comments were available from the airlines on the impact of the price reduction on passenger fares.