Fuel offering and purchase management system
First Claim
1. A computer processor-implemented system to generate fuel offerings for selection by customers in a retail market, comprising:
- 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 based on the strike price, pricing input factors, regionally segmented pump price distribution data and regionally segmented purchase price bias data;
means to provide the fuel offering for selection by the customers at an offer price comprised of the strike price and the premium price;
means to monitor behavior of the customers related to orders and exercises of the fuel offering;
means to store information regarding the monitored behavior; and
means to adjust the offer price based on the stored information.
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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. 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 geographical fuel pump location metric as well as consumer purchasing behavior to establish the pricing of fuel offerings.
20 Citations
20 Claims
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1. A computer 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 based on the strike price, pricing input factors, regionally segmented pump price distribution data and regionally segmented purchase price bias data; means to provide the fuel offering for selection by the customers at an offer price comprised of the strike price and the premium price; means to monitor behavior of the customers related to orders and exercises of the fuel offering; means to store information regarding the monitored behavior; and means to adjust the offer price based on the stored information.
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2. A non-transitory medium comprising instructions readable by one or more computer processors to generate fuel offerings for selection by customers in a retail market, wherein the instructions, when executed by the one or more computer processors, direct the one or more computer processors 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, pricing input factors, regionally segmented pump price distribution data and regionally segmented purchase price bias data; provide the fuel offering for selection by the customers at an offer price comprising the strike price and the premium price; monitor behavior of the customers related to orders and exercises of the fuel offering; store information regarding the monitored behavior; and adjust the offer price based on the stored information.
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3. An apparatus to generate fuel offerings for selection by customers in a retail market, comprising:
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a memory; and a computer processor disposed in communication with said memory, and configured to execute a plurality of processing instructions stored in the memory, wherein the instructions direct the computer 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; provide the fuel offering for selection by the customers at an offer price comprised of the strike price and the premium price; monitor behavior of the customers related to orders and exercises of the fuel offering; store information regarding the monitored behavior; and adjust the offer price based on the stored information. - View Dependent Claims (4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification