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;
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; and
providing payment for some portion of a commodity purchase for an exercised commodity offering, wherein the strike price of the commodity offering is less than a local retail commodity price.
2 Assignments
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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 employs a redemption condition based on a retail fuel pump price metric to establish the pricing of fuel offerings.
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Citations
54 Claims
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1. A processor-implemented method to provide commodity offerings, comprising:
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setting at least one commodity offering terms for a commodity offering; 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; and providing payment for some portion of a commodity purchase for an exercised commodity offering, 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)
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6. The method of claim 6, wherein fuel pump price is paid by the customer.
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48. A processor-implemented method to generate fuel offerings for selection by customers in a retail market, comprising:
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setting a strike price for a fuel offering; determining a premium price associated with the strike price for the fuel offering based on the strike price, pricing input factors, regionally segmented pump price distribution data and regionally segmented purchase price bias data; monitoring customer fuel offering orders and exercises; storing information regarding the monitored customer fuel offering orders and exercises as monitored information; adjusting fuel offering prices based on the monitored information; providing the fuel offering at an offer price comprised of the strike price and premium price for selection by customers.
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49. A processor-implemented system to provide commodity offerings, comprising:
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means to set at least one commodity offering terms for a commodity offering; 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; and means to provide payment for some portion of a commodity purchase for an exercised commodity offering, wherein the strike price of the commodity offering is less than a local retail commodity price.
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50. A processor-implemented system to generate fuel offerings for selection by customers in a retail market, comprising:
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means to set a strike price for a fuel offering; means to determine a premium price associated with the strike price for the fuel offering means to based on the strike price, pricing input factors, regionally segmented pump price distribution data and regionally segmented purchase price bias data; means to monitor customer fuel offering orders and exercises; means to store information regarding the monitored customer fuel offering orders and exercises as monitored information; means to adjust fuel offering prices based on the monitored information; means to provide the fuel offering at an offer price comprised of the strike price and premium price for selection by customers.
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51. A medium readable by a processor to provide commodity offerings, comprising:
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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; 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; and provide payment for some portion of a commodity purchase for an exercised commodity offering, wherein the strike price of the commodity offering is less than a local retail commodity price.
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52. A medium readable by a processor to generate fuel offerings for selection by customers in a retail market, comprising:
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instruction signals in the processor readable medium, wherein the instruction signals are issuable by the processor to; set a strike price for a fuel offering; determine a premium price associated with the strike price for the fuel offering based on the strike price, pricing input factors, regionally segmented pump price distribution data and regionally segmented purchase price bias data; monitor customer fuel offering orders and exercises; store information regarding the monitored customer fuel offering orders and exercises as monitored information; adjust fuel offering prices based on the monitored information; provide the fuel offering at an offer price comprised of the strike price and premium price for selection by customers.
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53. An apparatus to provide commodity offerings, comprising:
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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; 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; and provide payment for some portion of a commodity purchase for an exercised commodity offering, wherein the strike price of the commodity offering is less than a local retail commodity price.
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54. An apparatus to generate fuel offerings for selection by customers in a retail market, comprising:
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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 a strike price for a fuel offering; determine a premium price associated with the strike price for the fuel offering based on the strike price, pricing input factors, regionally segmented pump price distribution data and regionally segmented purchase price bias data; monitor customer fuel offering orders and exercises; store information regarding the monitored customer fuel offering orders and exercises as monitored information; adjust fuel offering prices based on the monitored information; provide the fuel offering at an offer price comprised of the strike price and premium price for selection by customers.
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Specification