WASHINGTON — American Telephone & Telegraph Co. said today that it will lower its interstate long-distance rates $772 million, or 3.5%, to reflect lower charges it pays for connections to the local phone network.
The change takes effect at midnight tonight.
AT&T's average residential customer who pays about $9 monthly in interstate long-distance calls will save about 21 cents, the company said.
Daytime rates will be cut the most--6.4%. Evening rates will drop 1.9% and late-night and weekend rates will go down 0.6%.
AT&T has said it needs to make daytime rates more competitive, and though that would tend to benefit business customers the most, the company says residential customers account for about 45% of daytime use.