FUEL OFFERING AND PURCHASE MANAGEMENT SYSTEM
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United States of America Patent
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N/A
Issued Date -
Dec 19, 2013
app pub date -
May 24, 2013
filing date -
Apr 9, 2007
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
The present disclosure is directed to facilitating pricing, sales and delivery of a commodity. In one embodiment, 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 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.
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