The government officials on Friday told CNBC-TV18 that there is no easy solution to surging oil prices but need careful calibration of taxes.

Officials said that any contribution by oil companies will impact the the dividend payout and capex plan.

The crude oil prices continue to cool off. The Brent has now slipped below $78 a barrel mark and the NYMEX is also down around a percent.

This on back of Russia's hint that it will gradually increase crude output. However, this drop in crude prices is yet to reflect in fuel prices back home.

Petrol and diesel prices have been increased for the 12th straight day.

First Published:May 25, 2018 6:20 PM IST