The CCP manipulated high oil prices behind the scenes, and domestic sales of refined oil products fell sharply year-on-year

Affected by the CCP‘s general accelerator Xi‘s policy, Communist China’s domestic economy is rapidly declining like a derailed train. The CCP‘s method to stabilize the economic market is very clumsy, and the purpose of maintaining high fuel prices is to stabilize its fiscal revenue. Can it really do what the CCP wants?

 According to the CCP‘s national development and reform commission on July 28th, the national consumption of refined oil products in June 2022 was 32.45 million tons, a year-on-year decrease of 7%, of which gasoline and aviation kerosene decreased by 11.5% and 32.8% year-on-year respectively.

 Crude oil futures have surged more than 20 percent since Russia invaded Ukraine, hitting a 14-year high due to sanctions imposed on Russia by America and its allies on Feb 24th. The CCP took this as an opportunity to raise prices, with a total of nine consecutive price increases as well as an average price increase every 18 days. After nine consecutive price rises, the oil price that exceeded 10 yuan squeezed the Chinese people dry and made them unable to consume. At present, the national consumption of refined oil has dropped by 7% year-on-year, and gasoline and aviation kerosene have dropped by 11.5% and 32.8% year-on-year respectively.

 The CCP‘s civil aviation statistics show that the number of international routes in the first half of this year was still limited, and the international air passenger market continues to slump. The ratio of domestic and international passenger traffic has changed from 8:1 before the pandemic to 202:1 now. Due to the strict implementation of the circuit breaker policy for international flights, up to 990 international flights were suspended in the first half of this year. In 2018 and 2019, the operating income of the domestic civil aviation industry exceeded 1 trillion yuan, while the operating income in the first half of this year was only 307.2 billion yuan, down 41.8% from before the pandemic. As of now, the airline‘s asset-liability ratio has reached 82.2%

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Translator: Formosa Taiwan English Team – Kelvin Liao
Design&editor: HBamboo(昆仑竹)

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