The government has no plan at present to compensate public sector oil marketing companies (OMCs) for their losses on sale of petrol, diesel, and jet fuel below market prices, a senior Petroleum Ministry official said on Monday. The comments come at a time when there is growing speculation over the possibility of an increase in fuel prices, particularly petrol and diesel. Despite the surge in international oil and fuel prices amid the West Asia crisis , retail prices of regular petrol and diesel haven’t been hiked. In the case of ATF, or jet fuel, just about 25% of the price increase was passed on for domestic flights on April 1, although a full passthrough was done for international flights. Consequently, public sector OMCs—Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation—are incurring heavy losses on the sale of these fuels, and have been pushing for price hikes, it is learnt. Petrol and diesel prices have not been hiked for over four years now in India.…