We first determine what the BOL average is by grade at the state level. Next, we take the BOL average and multiple that by the number of liftings for the grade for the rack location.
Example – For the Month of May 2022 Cedar City has less than 3 suppliers for #2 Diesel. As a result, the SumNetVolume reported on 5/15/2022 for Cedar City #2 Diesel is a RackAverage.
- Cedar City UT had less than 3 suppliers for Diesel #2 on 05/15/2022
- On 05/15/2022 50 BOLs 250,000 gallons was lifted for Diesel #2 in the state of Utah
- The BOL average is determined by taking 250,000 / 50 = 5,000 for #2 Diesel.
The RackAverage is calculated by taking BOL average of 5,000 multiplied by the number of truck liftings that took place at Cedar City for Diesel #2. So, 5,000 x 6 = 30,000.
NOTE: This is example data is for demonstration purposes and not actual liftings for 5/15.