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Why does China's increase in refined oil prices lead to a sharp drop in international oil prices?
Raising oil prices will curb the consumption of refined oil. China is a big consumer. When the oil price is high, fewer people consume it and fewer people use it. For example, the starting price of taxis has increased from 10 yuan to 15 yuan. Some people will choose to walk or take cheaper buses, which will lead to an oversupply of taxis. The rental price response should also be adjusted.