Crude oil is a futures with floating price. According to international practice, China adopts a "22+4%" adjustment mechanism. That is, referring to the changes of international crude oil futures price in the past 1 month (22 trading days), if the price fluctuates above 4%, the domestic refined oil price will be raised or lowered accordingly. Generally speaking, the pricing is determined by the National Development and Reform Commission (NDRC), when the media will release the changes in the retail prices of gasoline and diesel.

At the close of April 20th, 2020, the futures price of light crude oil for May delivery in the New York Mercantile Exchange, 2 1, dropped by 305.97% to close at -37.63 USD. The futures price of light crude oil for June delivery also fell sharply 18.37% to close at $20.43 per barrel. Meanwhile, London Brent crude oil futures for June delivery fell 2.5 1 USD to close at 25.57 USD per barrel, with a decrease of 8.94%.