Fuel offering and purchase management system
First Claim
1. A processor-implemented method to provide commodity offerings, comprising:
- setting by a processor at least one commodity offering term for a commodity offering, including at least one geographic zone specification;
determining by the processor at least one commodity offering pricing value based on the at least one commodity offering term and at least one commodity offering pricing model for the commodity offering;
providing by the processor the commodity offering, including at least one association based on the commodity offering pricing value between a strike price and a premium, for selection by a customer;
monitoring by the processor the location at which a selected commodity offering is exercised; and
providing payment for some portion of a commodity purchase made by the customer for the exercised commodity offering based on the monitored location of the exercised commodity offering and the at least one geographic zone.
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.
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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 by a processor at least one commodity offering term for a commodity offering, including at least one geographic zone specification; determining by the processor at least one commodity offering pricing value based on the at least one commodity offering term and at least one commodity offering pricing model for the commodity offering; providing by the processor the commodity offering, including at least one association based on the commodity offering pricing value between a strike price and a premium, for selection by a customer; monitoring by the processor the location at which a selected commodity offering is exercised; and providing payment for some portion of a commodity purchase made by the customer for the exercised commodity offering based on the monitored location of the exercised commodity offering and the at least one geographic zone. - 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, 47, 48, 49, 50, 51)
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52. A processor-implemented system to provide commodity offerings, comprising:
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a memory; a processor disposed in communication with the memory, and configured to issue a plurality of processing instructions to the memory, wherein the processor issues instructions to; set at least one commodity offering term 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 term and at least one commodity offering pricing model for the commodity offering; provide the commodity offering, including at least one association based on the at least one commodity offering pricing value between a strike price and a premium, for selection by a customer; monitor the location at which a selected commodity offering is exercised; and provide payment for some portion of a commodity purchase made by the customer for the exercised commodity offering based on the monitored location of the exercised commodity offering and the at least one geographic zone.
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53. A processor-readable medium having processor-executable program instructions residing thereon, wherein the processor-executable program instructions are issuable by the processor to:
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set at least one commodity offering term 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 term and at least one commodity offering pricing model for the commodity offering; provide the commodity offering, including at least one association based on the at least one commodity offering pricing value between a strike price and a premium, for selection by a customer; monitor the location at which a selected commodity offering is exercised; and provide payment for some portion of a commodity purchase made by the customer for the exercised commodity offering based on the monitored location of the exercised commodity offering and the at least one geographic zone.
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54. 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 processor issues instructions to; set at least one commodity offering term 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 term and at least one commodity offering pricing model for the commodity offering; provide the commodity offering, including at least one association based on the at least one commodity offering pricing value between a strike price and a premium, for selection by a customer; monitor the location at which a selected commodity offering is exercised; and provide payment for some portion of a commodity purchase made by the customer for the exercised commodity offering based on the monitored location of the exercised commodity offering and the at least one geographic zone.
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Specification