FUEL OFFERING AND PURCHASE MANAGEMENT SYSTEM
First Claim
1. A processor-implemented method to provide commodity offerings, comprising:
- setting at least one commodity offering terms for a commodity offering, including at least one geographic zone specification;
determining at least one commodity offering pricing value based on the at least one commodity offering terms and at least one commodity offering pricing model for the commodity offering;
providing the commodity offering, including at least one association based on the commodity offering pricing values between a strike price and a premium, for selection by a customer;
monitoring the location at which a commodity offering is exercised; and
providing payment for some portion of a commodity purchase for the exercised commodity offering based on the location of the exercised commodity offering and the at least one geographic zone specification, wherein the strike price of the commodity offering is less than a local retail commodity price.
2 Assignments
0 Petitions
Accused Products
Abstract
The present disclosure is directed towards apparatuses, systems and methods to facilitate the pricing, sales and delivery of a commodity fuel to a Customer. In one embodiment, the disclosure teaches a Fuel Offer Generator that facilitates the purchase and management of fuel offerings. The Fuel Offer Generator allows Customers interested in securing fuel to obtain an offer for fuel at lock-in prices for various tenors. Fuel Customers can buy these fuel offers such that they may later exercise the fuel offers so their fuel costs are locked-in at desired levels (e.g., they may be set to strike prices). The Fuel Offer Generator also can establish a Premium Price that will be part of the fuel offer. The Fuel Offer Generator may generate hedges to counteract fuel related risks stemming from fuel offer purchases. Ultimately, a customer that purchases a fuel offering can exercise their fuel offering order at a specified price and redeem any difference between the market price for their purchased fuel and the price specified in their fuel offering order. The Fuel Offer Generator allows for the management of regional fuel price offerings and allows for fuel offering redemption based on fuel pump prices.
16 Citations
55 Claims
-
1. A processor-implemented method to provide commodity offerings, comprising:
-
setting at least one commodity offering terms for a commodity offering, including at least one geographic zone specification; determining at least one commodity offering pricing value based on the at least one commodity offering terms and at least one commodity offering pricing model for the commodity offering; providing the commodity offering, including at least one association based on the commodity offering pricing values between a strike price and a premium, for selection by a customer; monitoring the location at which a commodity offering is exercised; and providing payment for some portion of a commodity purchase for the exercised commodity offering based on the location of the exercised commodity offering and the at least one geographic zone specification, wherein the strike price of the commodity offering is less than a local retail commodity price. - View Dependent Claims (2, 3, 4, 5, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52)
-
-
6. The method of claim 6, wherein fuel pump price is paid by the customer.
-
53. A processor-implemented system to provide commodity offerings, comprising:
-
means to set at least one commodity offering terms for a commodity offering, including at least one geographic zone specification; means to determine at least one commodity offering pricing value based on the at least one commodity offering terms and at least one commodity offering pricing model for the commodity offering; means to provide the commodity offering, including at least one association based on the commodity offering pricing values between a strike price and a premium, for selection by a customer; means to monitor the location at which a commodity offering is exercised; and means to provide payment for some portion of a commodity purchase for the exercised commodity offering based on the location of the exercised commodity offering and the at least one geographic zone specification, wherein the strike price of the commodity offering is less than a local retail commodity price.
-
-
54. A medium readable by a processor to provide commodity offerings, comprising:
-
instruction signals in the processor readable medium, wherein the instruction signals are issuable by the processor to; set at least one commodity offering terms for a commodity offering, including at least one geographic zone specification; determine at least one commodity offering pricing value based on the at least one commodity offering terms and at least one commodity offering pricing model for the commodity offering; provide the commodity offering, including at least one association based on the commodity offering pricing values between a strike price and a premium, for selection by a customer; monitor the location at which a commodity offering is exercised; and provide payment for some portion of a commodity purchase for the exercised commodity offering based on the location of the exercised commodity offering and the at least one geographic zone specification, wherein the strike price of the commodity offering is less than a local retail commodity price.
-
-
55. An apparatus to provide commodity offerings, comprising:
-
a memory; a processor disposed in communication with said memory, and configured to issue a plurality of processing instructions stored in the memory, wherein the instructions issue signals to; set at least one commodity offering terms for a commodity offering, including at least one geographic zone specification; determine at least one commodity offering pricing value based on the at least one commodity offering terms and at least one commodity offering pricing model for the commodity offering; provide the commodity offering, including at least one association based on the commodity offering pricing values between a strike price and a premium, for selection by a customer; monitor the location at which a commodity offering is exercised; and provide payment for some portion of a commodity purchase for the exercised commodity offering based on the location of the exercised commodity offering and the at least one geographic zone specification, wherein the strike price of the commodity offering is less than a local retail commodity price.
-
Specification