The Chinese government imposes price limits on domestic oil prices, which means that international crude oil prices are not completely related to domestic fuel and gas prices.

Some time ago, international oil prices rose sharply, but our country’s oil and gas prices have not been adjusted accordingly. All parties have put great pressure on the government, such as Sinopec, PetroChina, and some related departments. They believe that using the market to adjust oil prices is better than government restrictions. Prices are more conducive to domestic economic development. Under these pressures, the National Development and Reform Commission finally announced an increase in fuel and gas prices.

The decline in international crude oil prices is caused by the following factors: First, oil prices are too high, and countries are beginning to think of ways to save oil, and the actual demand for crude oil has declined; second, oil prices have risen sharply some time ago. A certain bubble formed, and the price fell back, gradually returning to the market equilibrium level.