The Indian government has no plans to increase the diesel and petrol prices, a senior official said Tuesday, putting a full stop to the speculations of fuel hike following the culmination of elections in some key states.

The assurance comes as retail fuel prices have remained unchanged for a record fourth consecutive year, even as global crude oil prices have surged by more than 50 per cent over the past two months amid conflict in West Asia.

The widening gap between input costs and pump prices has placed significant financial strain on state-run oil companies. Some estimates suggest daily losses are reaching roughly 24 billion rupees, fuelling expectations that prices could rise once voting concludes in several politically significant states.

Polling in West Bengal is set to end April 29, alongside elections in Tamil Nadu, Assam, Kerala and the union territory of Puducherry.