State-owned oil companies today announced a reduction in jet fuel prices by a marginal 170 rupees per kilolitre. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was reduced by 169.30 rupees per kiloliltre, or 0.25 per cent, to 67,631 rupees effective from midnight tonight. Indian Oil Corporation has made this announcement on behalf of the industry. The marginal reduction comes on the back of steep hikes in rates effected on March 1, March 16, and April 1st. Our correspondent reports, no immediate comment was available from the airlines on the impact of the price reduction on passenger fares.