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 by the processor 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;
determining by the processor whether the at least one association based on the commodity offering pricing values between a strike price and a premium is satisfactory and iteratively re-processing the offering terms until the association has been accepted; 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
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 employs a redemption condition based on a retail fuel pump price metric to establish the pricing of fuel offerings.
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Citations
48 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 by the processor 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; determining by the processor whether the at least one association based on the commodity offering pricing values between a strike price and a premium is satisfactory and iteratively re-processing the offering terms until the association has been accepted; 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, 6, 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)
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47. A medium readable by a processor to provide commodity offerings, comprising:
computer executable instructions in the processor readable medium, wherein the instructions 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; determine whether the at least one association based on the commodity offering pricing values between a strike price and a premium is satisfactory and iteratively re-processing the offering terms until the association has been accepted; 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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48. 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 computer executable processing instructions stored in the memory, wherein the processor issues instructions; 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; determine whether the at least one association based on the commodity offering pricing values between a strike price and a premium is satisfactory and iteratively re-processing the offering terms until the association has been accepted; 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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Specification