China domestic oil price reference. Domestic oil prices are mainly based on crude oil prices in London, Dubai and Thaksin. The calculation shows that if the moving average price of crude oil in the above three places reaches the necessary condition of 4% increase or decrease in 22 working days, domestic oil prices should be adjusted. In fact, the authorities have long explained the price adjustment conditions stipulated in the new refined oil pricing mechanism. Zhou Jiping, president of China Petroleum, once told this reporter that "the moving average price of crude oil in the international market has changed by more than 4% for 22 consecutive working days" is only a necessary condition for price adjustment, but not a sufficient and necessary condition. The state will proceed from the overall situation and appropriately adjust the domestic refined oil prices in a timely manner. Therefore, the oil bosses in China are awesome. They are positive when they go up and negative when they go down!