After the international oil price exceeds the upper limit of $130 per barrel, the domestic refined oil price will not be raised for the time being

China's oil production ratio of more than 70%, in accordance with the current refined oil price mechanism, the domestic price of refined oil according to the international market crude oil prices (the average price of refined oil products 10 working days before the price adjustment date, hereinafter referred to as international oil prices) changes, adjusted every
10 working days.
According to the relevant provisions of the "Petroleum Price Management Measures", when the international oil price exceeds the upper limit of $130 per barrel, the price of gasoline and diesel is not mentioned or understated
in principle.

In order to reduce the burden on downstream users and consumers and reduce the operating costs of the real economy, with the consent of the State Council, when the international oil price exceeds the upper limit of $130 per barrel, the domestic refined oil price will no longer be raised in the short term (not more than two months), and if the international oil price is higher than the upper limit of $130 per barrel, the relevant policy measures
will be 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, the central government will give a phased price subsidy to the refining enterprises, and the subsidy standard is that the price of gasoline and diesel should be adjusted in the price adjustment cycle, and the qualified refining enterprises can apply
according to the process.