NEW DELHI: Petrol and diesel prices may fall by 40-50 paise in the next 4-5 days, ET Now reported on Monday, quoting oil ministry sources.
A fall in fuel prices may bring shares of oil marketing companies (OMCs), including HPCL, BPCL and Indian Oil Corporation in focus for the next few trading sessions.
Petrol prices fell around 10 paise and diesel came down around 13-15 paise on Monday after rising nearly a rupee and a half in the last 10 days, IANS reported.
On Monday, shares of HPCL, Petronet LNG, Reliance Industries, BPCL and Indian Oil Corporation declined up to 2 per cent.
In the international markets, oil prices slipped on Monday amid hopes of an increase in supply.Oil prices slipped on Monday as concerns about supply disruptions eased and Libyan ports reopened while traders eyed potential supply increases by Russia and other oil producers, Reuters reported.
Frontline equity indices Sensex and Nifty extended losses to the second consecutive session on Monday owing to losses in metal, pharma, auto, bank and energy stocks, while weak macroeconomic indicators and mixed global cues kept investors' mood subdued.