netback
/ˈnɛtbak/Oil Industry
noun
A means of setting (discounted) crude oil prices by deducting the processing and transportation costs from the gross value of the refined products.
adjective
Of the selling price of crude oil: calculated by deducting processing and transportation costs from the gross value of the refined products.
Origin
Early 20th century; earliest use found in Quarterly Journal of Economics. From net + back.
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