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TeachMeFinance.com - explain Imported Refiners' Acquisition Cost (IRAC) Imported Refiners' Acquisition Cost (IRAC) The term 'Imported Refiners' Acquisition Cost (IRAC)' as it applies to the area of energy can be defined as ' The average price for imported oil paid by U.S. refiners'. Previous 5 Terms: Import Import fee Import license Import quota Imported crude oil burned as fuel Next 5 Terms: Imports Impoundment imprimis Imprinting improper fraction About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.