System and method for estimating forward retail commodity price within a geographic boundary
US8019694B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 12, 2008 |
| Grant date | Sep 13, 2011 |
| Priority date | — |
| Expiry date | Feb 8, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q50/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Embodiments disclosed herein provide a new way to generate estimated forward retail prices for a retail commodity within a geographic boundary that represents a target market. Using estimates for local retail prices, combined with knowledge of current and historical wholesale prices, embodiments disclosed herein enable the creation of a forward estimate of retail prices on fuels for a specific location, time period, and fuel grade. In some embodiment, the process of creating a forward estimate of retail prices on fuels comprises performing a predictive modeling utilizing wholesale gasoline prices, rack markup, retail markup, and taxes on a location, time period, and fuel grade basis. In some cases, the estimated forward retail prices thus generated can be used in a pricing model for price protection services for that retail commodity in that target market.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.