New Delhi, April 24 -- State-owned fuel retailers are incurring losses of about Rs.20 per litre on petrol and roughly Rs.100 per litre on diesel as pump prices remain frozen for nearly four years despite a surge in global oil prices, the government said on Thursday, signalling there is no immediate plan to raise retail fuel rates. Dismissing reports of a potential Rs.25-28 per litre increase in petrol and diesel prices after assembly elections, the Ministry of Petroleum and Natural Gas (MoPNG) said in a post on X that "there is no such proposal under consideration by the government". At a news briefing on developments in West Asia, Sujata Sharma, Joint Secretary in MoPNG, said international prices of crude oil (raw material used to make fuel like petrol and diesel) and LPG rates have been very volatile, yet the government has not increased prices. Crude, which was $70 per barrel last year, averaged over $113 this month, she said. "There is a huge increase... inspite of that the government has not increased prices and the effort of the government has been to keep the prices stable." Retail petrol and diesel prices have remained frozen since early April 2022-a period during which oil prices rose in some months and fell in other times. When prices fell, state-owned oil firms made handsome profits, which they used to set off losses when rates rose. Sharma said despite the rise in oil prices after war in West Asia, the government has not raised retail pump rates. "The effort of the government has been to keep the price stable." The sharp increase in prices in international markets, on which India is 88% dependent to meet its oil needs, has led to PSUs incurring under-recoveries on petrol and diesel, she said. Despite an over 50% rise in input crude oil prices, petrol and diesel rates have remained unchanged in India. Petrol is priced at Rs.94.77 a litre in the national capital and diesel comes for Rs.87.67....