China's oil price adjustment is based on the average price every ten working days. The refined oil adjustment period is 10 working days, which means that the oil price adjustment window will be opened after ten working days, and the working days do not include Saturday, Sunday and legal holidays.

Principle of refined oil price adjustment

1. Price adjustment standard: 22 working days, 4%

When the moving average price of crude oil in the international market changes by more than 4% for 22 consecutive working days, the domestic refined oil price can be adjusted accordingly.

2. When the price of crude oil in the international market is less than 80 dollars per barrel, the price of refined oil is calculated according to the normal processing profit rate.

3. When the crude oil price in the international market is higher than $80 per barrel.

When it is higher than $80 per barrel, the processing profit rate is deducted until the refined oil price is calculated according to the processing zero profit.

4. When the price of crude oil in the international market is higher than $0/30 per barrel.

When it is higher than $0/30 per barrel, appropriate actions shall be taken to ensure the production and supply of refined oil in accordance with the principle of giving consideration to the interests of producers and consumers and maintaining the stable operation of the national economy. In principle, the prices of gasoline and diesel oil shall not be raised or lowered.