The government fixed a math error in how it sets oil pipeline prices

The Federal Energy Regulatory Commission published a correction to a proposed rule about how it sets annual rate changes for oil pipelines. The original document contained an error in the proposed index level. This means the formula used to calculate how much oil pipelines can charge will be slightly different than first announced.

The US government sets a cap on how much oil pipelines can charge. This cap changes each year based on an index. A small change in this index can mean billions of dollars in revenue for pipeline operators over time, and slightly different costs for consumers. These adjustments are usually boring, but they add up.