IOC, HPCL and BPCL had earlier this month threatened to snap aviation turbine fuel supplies to Air India.
The monthly payment was besides the airline being put on cash-and-carry where it was given fuel only against cash payment.
Aviation Turbine Fuel (ATF) price in Delhi was cut by Rs 596.62 per kilolitre or 0.9 per cent, to Rs 62,698.86 per kl.
Last week, the two firms had announced a new joint venture to set up petrol pumps and retail aviation turbine fuel in India.
Reduction in Aviation Turbine Fuel rates will bring relief to cash strapped airlines.
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