New Delhi, July 2 -- India's state-owned oil companies on Wednesday cut prices of jet fuel used by domestic airlines by Rs.5 a litre and commercial cooking gas cylinders, by Rs.183.50 each, and one private fuel retailer rolled back retail price hikes as oil prices fell sharply following an ebbing of the conflict in West Asia. India's average crude oil import price fell below $70 a barrel on Friday for the first time since the West Asia conflict began, but petrol and diesel rates in pumps operated by state-owned oil marketing companies (OMCs) remained unchanged, as did prices of liquified petroleum gas (LPG) cylinders used by households. While a cut in these prices may not be imminent, analysts say that the reduction in prices of aviation tu...