Common use of Blended Average Clause in Contracts

Blended Average. 2472 + 1.3277 = 1.5749 Posted Date: (Hypothetical) December 21, 2015 1.8844 x .15 = .2826(6) 1.1063 x .85 = .9403(5) Blended Average .2826 + .9403 = 1.2229 ADJUSTMENT CALCULATION December 21, 2015 Blended Average ± August 10, 2015 Base Blended Average = Adjustment 1.2229 – 1.5749 = -.3520* *This figure being a negative number will be subtracted from the base Contract price. If the figure is a positive number it would be added to the base Contract price. For the OGS web based posted pricing this adjustment will be added or subtracted to the base Contract price.

Blended Average. 2472 + 1.3277 = 1.5749 Posted Date: (Hypothetical) December 21, 2015 1.8844 x .15 = .2826(6) 1.1063 x .85 = .9403(5) Blended Average .2826 + .9403 = 1.2229 ADJUSTMENT CALCULATION December 21, 2015 Blended Average ± August 10, 2015 Base Blended Average = Adjustment 1.2229 – 1.5749 = -.3520* *This figure being a negative number will be subtracted from the base Contract Bid price. If the figure is a positive number it would be added to the base Contract Bid price. For the OGS web based posted pricing this adjustment will be added or subtracted to the base Contract Bid price. ALL FIGURES ARE TRUNACTED TO FOUR DECIMAL PLACES IN DOLLARS PER GALLON.

Blended Average. 2472 + 1.3277 = 1.5749 Posted Date: (Hypothetical) December 21, 2015 1.8844 x .15 = .2826(6) 1.1063 x .85 = .9403(5) Blended Average .2826 + .9403 = 1.2229 ADJUSTMENT CALCULATION December 21, 2015 Blended Average ± August 10, 2015 Base Blended Average = Adjustment 1.2229 – 1.5749 = -.3520* *This figure being a negative number will be subtracted from the base Contract bid price. If the figure is a positive number number, it would be added to the base Contract price. For the OGS web based posted pricing this adjustment will be added or subtracted to the base Contract price.