PRICE REVISIONS FOR BIODIESEL Sample Clauses

PRICE REVISIONS FOR BIODIESEL. The price revision procedure for 1D to be used for winter mixes with B5 BioDiesel, B10 BioDiesel and B20 BioDiesel shall be the same as described above in “Price Revisions” and “NOTE”. The price revision procedure for B5, B10 and B20 BioDiesel will be as follows: The B5 BioDiesel pricing shall be based on 95% of the low-sulfur diesel average as described above plus 5% of the soybean oil price based on the price of soybean oil per pound as shown in The Wall Street Journal's “Cash Prices - Fats and Oils” for each Thursday's Posted Prices, using a multiplier of 7.6465 to convert to gallons. The B10 BioDiesel pricing shall be based on 90% of the low-sulfur diesel average as described above plus 10% of the soybean oil price based on the price of soybean oil per pound as shown in the Wall Street Journal’s “Cash Prices –Fats and Oils” for each Thursday’s Posted Prices, using a multiplier of 7.6465 to convert to gallons. The B20 BioDiesel pricing shall be based on 80% of the low-sulfur diesel average as described above plus 20% of the soybean oil price based on the price of soybean oil per pound as shown in The Wall Street Journal's “Cash Prices - Fats and Oils” for each Thursday's Posted Prices, using a multiplier of 7.6465 to convert to gallons. NYS Procurement will compute any price revisions by determining the difference between the combined posted prices on Thursday, March 14, 2013 and the combined posted prices on every Thursday during the Contract period beginning with the publication of August 15, 2013. Applicable price changes will be effective as of the start of business on the following Friday. If the prices are not posted on Thursday, the previous business day on which the specified prices are posted will be utilized. The following is an example of B5, B10, and B20 BioDiesel Price Revisions utilizing pricing from the Albany OPIS Posting Location. Price revisions will actually be based on the OPIS Posting Location designated in Attachment 1 – Price Pages. B5: The average posted price for Albany on Thursday, March 14, 2013 for soy bean oil is $.4790/lb. Using the multiplier of 7.6465, the adjusted price per gallon is $3.6626 for soybean oil. Five percent (5%) of that figure ($.1831) plus 95% of the 2D base of $3.1530 ($2.9954) yields a March 14, 2013 base price for B5 fuel of $3.1785/gal. In order to arrive at the adjustment for B5 fuel for a future week, subtract the current base price for Thursday March 14, 2013 ($3.1785/gal) from the current week’s co...
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PRICE REVISIONS FOR BIODIESEL. ‌ The price revision procedure for 1D to be used for winter mixes with B5 Biodiesel, and B10 Biodiesel shall be the same as described above in “Price Revisions” and “NOTE”. The price revision procedure for B5, and B10 Biodiesel will be as follows: The B5 Biodiesel pricing shall be based on 95% of the low posted price for low sulfur diesel (as described above) plus 5% of the soybean oil price based on the simple average of the high and low asking price for soybean oil found in the USDA AMS 3511 report for the Illinois region published on the immediately preceding Friday, with the price converted from cents per pound to dollars per gallon by applying a multiplication factor of 0.076465 to the average and truncating the result to four decimal places. The B10 Biodiesel pricing shall be based on 90% of the low posted price for low sulfur diesel (as described above) plus 10% of the soybean oil price based on the simple average of the high and low asking price for soybean oil found in the USDA AMS 3511 report for the Illinois region published on the immediately preceding Friday, with the price converted from cents per pound to dollars per gallon by applying a multiplication factor of 0.076465 to the average and truncating the result to four decimal places. Procurement Services will compute any price revisions by determining the difference between the combined posted prices on Thursday, February 23, 2023 and the combined posted prices on every Thursday during the Contract period, beginning with the OPIS Oil Price Daily on the Thursday immediately preceding the contract start date. Applicable price changes will be effective as of the start of business on the following Friday. If the prices are not posted on Thursday, the previous business day on which the specified prices are posted will be utilized. The following is an example of B5, and B10 Biodiesel Price Revisions utilizing pricing from the Albany OPIS Posting Location. All values will be truncated to four (4) decimal places (dollars per gallon) prior to every operation in calculating the final result. The final result will also be truncated, if necessary, to four (4) decimal places.
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