Rules and regulations as promulgated under provisions of this chapter shall provide that:

(1)  A prime supplier inform the governor, or the governor’s designee, each month of the monthly volume of each product subject to fuel set-aside which is intended to be sold into the state distribution system for consumption within the state, provided the governor, or the governor’s designee, determines that the information is needed.

(2)  The governor, or the governor’s designee, shall notify each prime supplier of the monthly fuel set-aside percentage applicable to each product subject to fuel set-aside. The governor, or the governor’s designee, may review and revise the percentages from time to time as he or she deems appropriate.

(3)  The amount of fuel to be set aside for a particular month cannot be accumulated or deferred; it shall be made available from stocks of prime suppliers, whether directly or through distributors.

(4)  Procedures shall be established for making an application for an allocation from the fuel set-aside reserves and for approval or disapproval of the application by the governor, or the governor’s designee.