Fuel offering and purchase management system
US8484124B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 28, 2011 |
| Grant date | Jul 9, 2013 |
| Priority date | — |
| Expiry date | Dec 28, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
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 employs a redemption condition based on a retail fuel pump price metric to establish the pricing of fuel offerings.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.