Shares of several major oil companies declined in Monday premarket trading amid a rise in gas prices as Americans kick off the holiday season.

In premarket electronic trading, BP PLC shed 48 cents to $65.90 after closing at $66.38 Friday, and ConocoPhillips shed 60 cents to $62.10, from their Friday close at $62.70. Both stocks trade on the New York Stock Exchange.

Gas prices have risen about 5 cents per gallon nationwide from two weeks ago, industry analyst Trilby Lundberg said.

On Nov. 17, the national average for self-serve regular was $2.23, according to Lundberg's latest survey of 7,000 gas stations across the country. The national average for mid-grade was $2.34, while premium was $2.44 per gallon.

Looking ahead, Goldman Sachs analyst Kelvin Koh expects crude oil fundamentals to strengthen, not weaken.

"We believe the fundamentals of the U.S. mid-continent are beginning to tighten," Koh wrote in a client note.

Koh said a build in below-normal U.S. crude oil inventory has helped support U.S. Gulf coast crude oil prices as refinery maintenance typically lowers crude oil demand.

Shares of Exxon-Mobil Corp. were unchanged from their Big Board close at $73.08 in the early session, which Chevron Corp. shares dipped 3 cents from their close at $69.10 Friday on the NYSE.

Shares of Hess Corp. edged 4 cents higher from their NYSE close Friday at $46.04.

Meanwhile, light sweet crude prices for January delivery slumped 36 cents to $58.61 a barrel Monday on the New York Mercantile Exchange.