New Delhi, Feb. 15 (PTI): Public sector oil companies today slashed jet fuel prices by 3.7 per cent. This is the tenth reduction in prices since September.

Prices in Delhi were slashed to Rs 29,158 per kilolitre, effective midnight tonight, an official of Indian Oil Corporation said. In Mumbai, the rates were down Rs 1,191 per kl to Rs 29,985 per kl today.

After today’s reduction, jet fuel will be priced at early 2005 levels. The prices had peaked in August after global crude prices touched a high of $147 a barrel.

Indian Oil Corporation, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited revise the prices on the 1st and 16th of every month based on the average global jet fuel rates in the preceding fortnight.