Hopkins Oil and Customer agree upon a payment price based upon a fixed margin, plus all taxes, plus the Average Rack Price at Selma, N.C. All Oil Companies change their rack prices each day at 6 p.m. for the following day. The Customer is e-mailed the Average Rack Price each morning determined by OPIS (Oil Price Information Service) as the source. Using an Excel formula that is provided, one can calculate the price that will be billed for that day by merely changing the first column which is the Average Rack Price. The formula does the rest.

For example:

Here are the Average Rack Price(s) sent out on February 2, 2010.

After changing the Average Rack Price, your Excel Formula would look like this:

*MARGINS here are for small volumes with 30 day terms. Better pricing is arranged for larger volumes; quicker payment terms, and varies with equipment provided such as pumps, tanks, and monitors.
Freight would be added for out- of- the area deliveries, beyond 60 miles of Raleigh-Durham area.


Fixed Price
Contracts for Fixed Prices, Caps, and Collars are offered to large volume diesel fuel customers that are able to purchase multiples of 42,000 gallons per month per contract. Call Larry Hopkins for information on the contracts at his direct line: 919-534-2309.