It's about oil prices!National Development and Reform Commission's statement →

my country's oil external mining ratio exceeds 70%. According to the current refined oil price mechanism, the price of domestic oil products in China is based on the average price of 10 working days before the price of refined oil prices, hereinafter referred to as international oil prices). Every 10 working days Adjust once. According to the relevant provisions of the "Petroleum Price Administration Measures", when the international oil price exceeds the upper limit of $ 130 per barrel, the price of auto and diesel is not mentioned in principle. In order to reduce the burden on downstream users and consumers and reduce the cost of operating the real economy, with the consent of the State Council, when the international oil price exceeds the upper limit of US $ 130 per barrel, the price of domestic oil products will not be adjusted in the short term (not more than two months). The time of international oil prices higher than the $ 130 of each barrel for a total of more than two months, and relevant policies and measures will be clearly clarified in advance. At the same time, in order to protect the production enthusiasm of oil refining enterprises and ensure the safe and stable supply of refined oil products, the central financial subsidy to refining enterprises shall be provided by the central government. Application can be made according to the process.

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(Source: Xinhuanet, the website of the National Development and Reform Commission)

Edit: Ren Shiyin Wang Pei

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