Examples of Factor in a sentence
The Adjustment Factor shall be rounded to four (4) decimal places.
Decreases in the Adjustment Factor shall never cause the Base Price to be reduced below $2.17 per 1,000 gallons.
Beginning on January 1, 2025, 2 and on January 1 of each subsequent year, the Base Price shall be annually adjusted by the Adjustment Factor and shall be rounded to two (2) decimal places.
The Adjustment Factor shall be equal to the aggregate percent change in the Consumer Price Index – All Urban Consumers for New York-Newark-Jersey City, NY-NJ-PA NY- Northern NJ-LI for All Items, Not Seasonally Adjusted (Index) as published by the U.S. Department of Labor, Bureau of Labor Statistics between Index for July 20203 (283.624 ) and the Index for the July which precedes the January 1 effective date of the annual price adjustment.
See examples below: The CPI Data for New York-Newark-Jersey City, NY-NJ-LI (not seasonablyseasonally adjusted): July 2020 = 283.624 (actual) July 2021 = 293.872 (estimate) 293.872 – 283.624 = 10.248 10.248/283.624 = 0.0361 0.0361 + 1 = 1.0361 The Adjustment Factor would be $2.17 x 1.0361 = $2.25 resulting in a Base Price of $2.25 per 1,000 gallons thereof, effective January 1, 2022.