Fuel offering and purchase management system
First Claim
1. A processor-implemented method to generate fuel offerings for selection by customers, comprising:
- 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 and pricing input factors;
monitoring customer purchases of the fuel offering that specifies at least a quantity of fuel and a tenor and customer exercises of the purchases during the specified tenor;
storing information regarding the monitored customer fuel offering purchases and exercises as monitored information;
adjusting at least one of the strike price and the premium price based on the monitored information;
providing the fuel offering at an offer price comprised of the adjusted at least one of the strike price and the premium price for selection by customers.
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 determines which metrics are relevant to pricing the fuel offering and then employs those determined metrics to establish the pricing of fuel offerings.
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Citations
56 Claims
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1. A processor-implemented method to generate fuel offerings for selection by customers, 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 and pricing input factors; monitoring customer purchases of the fuel offering that specifies at least a quantity of fuel and a tenor and customer exercises of the purchases during the specified tenor; storing information regarding the monitored customer fuel offering purchases and exercises as monitored information; adjusting at least one of the strike price and the premium price based on the monitored information; providing the fuel offering at an offer price comprised of the adjusted at least one of the strike price and the premium price for selection by customers. - 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, 52, 53)
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54. A processor-implemented system 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 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 and pricing input factors; monitor customer purchases of the fuel offering that specifies at least a quantity of fuel and a tenor and customer exercises of the purchases during the specified tenor; store information regarding the monitored customer fuel offering purchases and exercises as monitored information; adjust at least one of the strike price and the premium price based on the monitored information; provide the fuel offering at an offer price comprised of the adjusted at least one of the strike price and the premium price for selection by customers.
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55. A medium readable by a processor storing processor-issuable instructions to generate fuel offering for selection by customers wherein the instruction are issuable by the processor to:
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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 and pricing input factors; monitor customer purchases of the fuel offering that specifies at least a quantity of fuel and a tenor and customer exercises of the purchases during the specified tenor; store information regarding the monitored customer fuel offering purchases and exercises as monitored information; adjust at least one of the strike price and the premium price based on the monitored information; provide the fuel offering at an offer price comprised of the adjusted at least one of the strike price and the premium price for selection by customers.
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56. 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 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 and pricing input factors; monitor customer purchases of the fuel offering that specifies at least a quantity of fuel and a tenor and customer exercises of the purchases during the specified tenor; store information regarding the monitored customer fuel offering purchases and exercises as monitored information; adjust at least one of the strike price and the premium price based on the monitored information; provide the fuel offering at an offer price comprised of the adjusted at least one of the strike price and the premium price for selection by customers.
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Specification