Cal. Code Regs. tit. 2, § 2154
(e) $__________ per barrel for a specified gravity with a gravity differential schedule as specified in advance by the Commission, provided that the purchaser shall at all times pay the bid price or the base price plus a specified percent of the base price as determined by the Commission, whichever is higher.
The Commission may, in offering a sales contract, require a minimum bid.
The Commission shall select for each sales contract, prior to offering royalty oil for bid, one of the bid factors listed below: