Topic: GAS, COAL, OIL
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| Date: | 1600-1700 |
| Language: | Latin |
| Origin: | praemium 'profit, reward', from emere 'to take, buy' |
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pre‧mi‧um1
1 [countable]BFI the cost of insurance, especially the amount that you pay each year : 
insurance premiums
insurance premiums2 [countable]BB an additional amount of money, above a standard rate or amount :
3 if something is at a premium, people need it or want it, but there is little of it available or it is difficult to get : During the Olympic Games, accommodation will be at a premium.
be at a premium
During the Olympic Games, accommodation will be at a premium.4 to consider one quality or type of thing as being much more important than others : Modern economies place a premium on educated workers.
put/place a premium on something
Modern economies place a premium on educated workers.5 [uncountable] especially American EnglishTPGTTC good quality petrol
