Oil Price definition

Oil Price shall be the average of the prices posted for West Texas Intermediate Oil, in current $US, over the six months prior to the month of a calculation. The prices to be used shall be those published at ▇▇▇▇://▇▇▇.▇▇▇.▇▇▇.▇▇▇/dnav/pet/hist/LeafHandler.ashx?n=PET&s=RWTC&f=D .
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Oil Price means the cost of the distillate fuel oil in pounds sterling required to generate the same amount of electrical power as the Actual Utilisation Quantity (MWh), determined as follows:-
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Examples of Oil Price in a sentence

  • All pricing will be based on Thursday’s edition of the Oil Price Information Service (OPIS) each week, which reflects pricing for the following week.

  • For Fuel No. 6 (0.3%) B2 and No. 4 (0.15%) B2, the OPIS Posting Location will be NY Barge Reseller as listed in the OPIS Oil Price Daily.

  • For Fuel No. 2 (0.0015%) B2 the OPIS Posting Location will be NY Tank Car Reseller as listed in the OPIS Oil Price Daily.

  • If the OPIS Group Oil Price Daily is not posted on Thursday, the previous business day’s posting in which the specified prices are available will be utilized.

  • The simple average of the high and low prices shown in the OPIS Group Oil Price Daily postings will be used to compute price revisions during the Contract period.

  • For Fuel No. 4 (1.5%), No. 6 (0.5%) and No.6 (1.5%) the OPIS Posting Location will be Albany Reseller as listed in the OPIS Oil Price Daily.

  • Fuel No. 4 (1.5%), No. 6 (0.5%) and No.6 (1.5%) shall be Albany Reseller as listed in the OPIS Oil Price Daily.

  • If on any “Posting Day” only a single price is posted, negating the averaging process, the State normally uses the single posting as both the high and low prices, however, the State reserves the right to utilize the last posting immediately preceding said Oil Price Daily in which the missing price was posted until such time as both entries are again posted.

  • Fuel No. 6 (0.3%) B2 and No. 4 (0.15%) B2 shall be NY Barge Reseller as listed in the OPIS Oil Price Daily.

  • Contract prices for all fuel grades shall be firm except that price revisions will be permitted in accordance with the following procedure: Revisions (increases or decreases) to the original contract price shall be based on prices posted in the OPIS Oil Price Daily.