RIL was down 3.68 per cent, while ONGC fell by 3.36 per cent on the BSE.
Similarly, Cairn India lost 3.26 per cent.
The government deferred an increase in natural gas price for the third time in view of next month's assembly elections in Maharashtra and Haryana, Oil Minister Dharmendra Pradhan said today.
Yesterday, the Cabinet Committee on Economic Affairs had deferred a decision on revising natural gas prices by 45 days to November 15.
Every dollar increase in gas price will lead to a Rs 1,370 per tonne rise in urea production cost and a 45 paise per unit increase in electricity tariff (for just the 7 per cent of the nation's power generation capacity based on gas).