The Left on Monday opposed any increase in fuel prices and asked the government to remove the ad valorem surcharges on petroleum products.

"There is no question of imposing additional burden on the people till the ad valorem surcharges on the petroleum product is removed," CPI politburo member Sitaram Yechury said.

He denied any recent meeting with Petroleum Minister Murli Deora. Both he and CPI member Gurudas Dasgupta denied having agreed to any suggestion of Murli Deora on hiking the prices.

"According to our estimates, the Finance Ministry has collected additional Rs 40,000 crore because of the increase in international prices. This is over and above the budget estimates."

"If this extra earning is returned to the oil companies, there is no need to impose further burden on the people. We oppose any increase in prices," Yechury said.

Dasgupta also contradicted reports that he had agreed to a minor price hike in petroleum products during a meeting with Petroleum Minister Murli Deora and described them as "false and fabricated".

"Neither did he call me nor did he meet me. Even he had done so, we would have never agreed to such a suggestion" Dasgupta said.

He said there was absolutely no justification for any hike in the prices, even marginal.

"If the petroleum prices are increased it would further escalate inflation, which is already unbearable for the people," Dasgupta said.