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IOC shares cut losses marginally after the company said that auto fuel prices were each cut by just one paisa a litre. Earlier in the day, IndianOil had published that petrol prices were cut by 60 paise and diesel by 56 paise in the capital.
But a company statement later said, "There was a technical glitch in posting the selling prices of petrol and diesel on our website today. The selling prices of petrol and diesel w.e.f 30th May 2018 have been rectified on our website."
Earlier in the day, Indian Oil Corp Ltd, Bharat Petroleum Corp and Hindustan Petroleum Corp fell as much as 2.1 per cent to 3.3 per cent.
At 2.05 pm local time, the company shares were down 0.23 per cent at Rs 171.55 on the BSE.
Domestic petrol and diesel prices had touched record highs on Friday. Petrol and diesel prices in India are linked to Singapore gasoline prices and Arab Gulf diesel prices, which mostly track the movement in crude oil prices.
Crude oil prices fell as Saudi Arabia and Russia said they are ready to ease supply curbs that have pushed crude prices to their highest since 2014. State-run BPCL, HPCL and IOC control most of the fuel retail market.
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