"Aviation turbine fuel prices would be cut from December 1," Indian Oil Director (Finance) S V Narsimhan said on Friday.
International crude oil prices are hovering around $55 a barrel in major overseas markets compared to over $60 a barrel a month ago.
The possible reduction next month follows the price cuts by public sector oil firms to the tune of 18.5 per cent from November 1.
Oil companies had cut ATF prices by up to Rs 745 per kl in the wake of falling international prices.
The slash in ATF prices for domestic airlines ranged from Rs 650 per kl to Rs 745 per kl.
For international airlines, who do not have to pay local levies on the fuel, the cut was between $25 to 26 per kl.