Definition of netback in US English:

netback

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.

Pronunciation

netback

/ˈnɛtbak/