PSU oil cos to cut ATF prices

Indian Oil Corporation and other public sector retailers including Hindustan Petroleum and Bharat Petroleum are likely to cut jet fuel prices by about Rs 6,000 per kilo litre from midnight tonight.

Jet fuel prices would be cut in line with the softening of international oil prices, IOC chairman Sarthak Behuria said.

"The reduction would be about Rs 6,000 per KL," he said, adding that the exact quantum of the cut would be announced later in the evening after the companies compute the new prices based on the average rates for second fortnight of October.

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