Abstract: Presenting as a currency of total value of commodity, price is a central link in market mechanism; also, as a regulator of market, price has quite complicated forms. Oil transportation by pipeline is a significant component in national economic transportation system. In order to make pipeline industry keep abreast with the new market situation and constitute a price model of oil transporting by pipeline, which can response characteristics of operation in pipeline transportation enterprises, the article sets forth the function and feature of the price of piped oil, focusing on the analysis of the cost of piped oil and the relations between physical properties, flow rate of the piped crude oil and pipeline engineering coefficients, and also gives brief systematic analysis on major constitution elements of the piped oil price model.