In addition to overseas procurement linked to the international crude oil futures price, the pricing mechanism of China's petroleum and petrochemical products can be roughly divided into three categories:

First, the refined oil market is adjusted according to the rate of change of international crude oil prices.

Second, the conversion of LNG represented by JCC pricing to international oil price, and the transportation of LPG, pipeline natural gas and other oil and gas products at Saudi Aramco CP agreement price.

Third, take the international oil price as the standard, and negotiate the market price of petroleum-related chemicals according to the close correlation coefficient of crude oil.

The above three types of market pricing methods are as follows

Based on the fluctuation of international oil price.