The 25-year-old scored 33 goals last season as the Posh won automatic promotion to League One and Fry insists that the London Road outfit have no wish to sell the player.
He told the Evening Telegraph: "Wolves have made two bids which were instantly disregarded.
"They are miles below what we would consider a proper fee for a player with Aaron's goalscoring ratio.
"They have been persistent in their attempts to sign Aaron, but I did tell them last week that they were wasting their time. We are not a selling club."