Fuel offering and purchase management system
First Claim
1. A computer processor-implemented method to provide commodity offerings, comprising:
- setting, by a computer processor, at least one commodity offering term for a commodity offering, including a specification of a plurality of geographic zones;
determining, by the computer 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 computer 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;
receiving, by the computer processor, a selection of the at least one commodity offering by the customer;
monitoring, by the computer processor, a location at which the 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 a relationship between the monitored location of the exercised commodity offering and the geographic zones, wherein the payment is adjusted by an adjustment amount if the monitored location is not a most expensive of the geographic zones.
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Accused Products
Abstract
The present disclosure is directed to facilitating pricing, sales and delivery of a commodity. In one embodiment, a Fuel Offer Generator 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 may later exercise the fuel offers so their fuel costs are locked-in at desired levels 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
20 Claims
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1. A computer processor-implemented method to provide commodity offerings, comprising:
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setting, by a computer processor, at least one commodity offering term for a commodity offering, including a specification of a plurality of geographic zones; determining, by the computer 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 computer 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; receiving, by the computer processor, a selection of the at least one commodity offering by the customer; monitoring, by the computer processor, a location at which the 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 a relationship between the monitored location of the exercised commodity offering and the geographic zones, wherein the payment is adjusted by an adjustment amount if the monitored location is not a most expensive of the geographic zones. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A system for providing commodity offerings, comprising:
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a memory including computer processor executable instructions; and a computer processor configured to retrieve the instructions from the memory and execute the instructions to; set at least one commodity offering term for a commodity offering, including a specification of a plurality of geographic zones; 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 commodity offering pricing value, between a strike price and a premium, for selection by a customer; receive a selection of the commodity offering by the customer; monitor a location at which the 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 a relationship between the monitored location of the exercised commodity offering and the geographic zones, wherein the payment is adjusted if the monitored location is not a most expensive of the geographic zones.
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20. A non-transitory computer-readable medium comprising instructions that, when executed by one or more computer processors, direct the one or more computer processors to:
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set at least one commodity offering term for a commodity offering, including a specification of a plurality of geographic zones; 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; providing 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; receive a selection of the commodity offering by the customer; monitor a location at which the 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 a relationship between the monitored location of the exercised commodity offering and the geographic zones, wherein the payment is adjusted if the monitored location is not a most expensive of the geographic zones.
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Specification