# US 2014/0156351 A1 · Fuel offering and purchase management system

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- Number: US 2014/0156351 A1
- Document ID: US20140156351A1
- Status: Published application
- Kind: A1
- Application number: 13/928,684
- Filed: 2013-06-27
- Published: 2014-06-05
- Earliest claimed: 2007-04-09
- Assignees: Goldman, Sachs & Co.
- Applicants: Goldman, Sachs & Co
- Inventors: Michael Kirch; Saurabh H. Sanghvi; Daniel Sharfman
- Web page: https://patentgrep.com/patent/US20140156351A1

## CPC

- G06Q 50/06: Energy or water supply
- G06Q 30/0206: {Price or cost determination based on market factors}
- G06Q 30/06: Buying, selling or leasing transactions
- G06Q 40/04: Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
- G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR

## Abstract

The present disclosure is directed towards apparatuses, systems and methods to facilitate the pricing, sales and delivery of a commodity fuel to a Customer. In one embodiment, the disclosure teaches 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 can buy these fuel offers such that they may later exercise the fuel offers so their fuel costs are locked-in at desired levels (e.g., they may be set to strike prices). The Fuel Offer Generator also can establish a Premium Price that will be part of the fuel offer. 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 determines which metrics are relevant to pricing the fuel offering and then employs those determined metrics to establish the pricing of fuel offerings.

## Claims

### Claim at position 1

1-45. (canceled)

### Claim 46

A processor-implemented method to generate fuel offerings for selection by customers, comprising:
setting a strike price for a fuel offering;
determining a premium price associated with the strike price for the fuel offering based on the strike price and pricing input factors;
monitoring customer fuel offering orders and exercises;
storing information regarding the monitored customer fuel offering orders and exercises as monitored information;
adjusting fuel offering prices based on the monitored information;
providing the fuel offering at an offer price comprised of the strike price and premium price for selection by customers.

### Claim 47

(canceled)

### Claim 48 (depends on 46)

The method of claim 46, further, comprising:
determining a service markup price associated with the premium price for the fuel offering.

### Claim 49

(canceled)

### Claim 50 (depends on 46)

The method of claim 46, wherein the strike price is based on a determined metric.

### Claim 51 (depends on 50)

The method of claim 50, wherein the determined metric is based on a national average.

### Claim 52 (depends on 50)

The method of claim 50, wherein the determined metric is based on a multi-national average.

### Claim 53

(canceled)

### Claim 54

(canceled)

### Claim 55 (depends on 46)

The method of claim 46, further, comprising:
determining if the strike and premium price are satisfactory by querying a historical usage database for information to be used as a factor in determining whether said strike and premium price are satisfactory.

### Claim 56 (depends on 46)

The method of claim 46, wherein the pricing input factors comprise: fuel market information, historical analysis, offering parameters, observable parameters and non-observable parameters.

### Claim 57 (depends on 56)

The method of claim 56, wherein the fuel market information may include any of:
a wholesale gasoline over-the-counter options market, wholesale gasoline over-the-counter forward market and futures market, retail gasoline spot prices.

### Claim at position 14

58-61. (canceled)

### Claim 62 (depends on 46)

The method of claim 46, wherein determination of the premium price based on the pricing input factors, further includes:
obtaining the pricing input factors;
employing the pricing input factors in a commodity volatility model to generate a volatility solution; and
partially determining the premium price based on the pricing input factors using the volatility solution as an input into a pricing simulation.

### Claim at position 16

63-65. (canceled)

### Claim 66 (depends on 46)

The method of claim 46, further, comprising:
obtaining a customer order responsive to said fuel offering, the customer order including specified parameters including at least a quantity of fuel and a tenor.

### Claim 67 (depends on 66)

The method of claim 66, wherein the specified parameters further include a type of fuel.

### Claim 68 (depends on 66)

The method of claim 66, wherein the specified parameters further include a periodic usage limit.

### Claim 69 (depends on 46)

The method of claim 46, further, comprising:
reimbursing a customer that exercises a customer fuel offering order.

### Claim 70 (depends on 69)

The method of claim 69, further, comprising:
storing exercise information regarding the customer's fuel offering order exercise in a historical usage database.

### Claim at position 22

71-74. (canceled)

### Claim 75 (depends on 66)

The method of claim 66, further, comprising:
aggregating customer fuel offering orders.

### Claim 76 (depends on 75)

The method of claim 75, further, comprising:
executing a hedge for the aggregated customer fuel offering orders.

### Claim 77 (depends on 75)

The method of claim 75, wherein the hedge employs a forward contract.

### Claim at position 26

78-99. (canceled)

### Claim 100 (depends on 46)

The method of claim 46, further, comprising:
aggregating customer fuel offering orders;
determining a sensitivity to said offered strike and premium price;
executing a hedge for the customer fuel offering order based on the determined sensitivity to said fuel offering strike and premium pricing.

### Claim at position 28

101-103. (canceled)

### Claim 104

A medium readable by a processor to generate fuel offerings for selection by customers, comprising:
instruction signals in the processor readable medium, wherein the instruction signals are issuable by the 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 and pricing input factors;
monitor customer fuel offering orders and exercises;
store information regarding the monitored customer fuel offering orders and exercises as monitored information;
adjust fuel offering prices based on the monitored information;
provide the fuel offering at an offer price comprised of the strike price and premium price for selection by customers.

### Claim 105

(canceled)

### Claim 106

An apparatus to generate fuel offerings for selection by customers, comprising:
a memory;
a processor disposed in communication with said memory, and configured to issue a plurality of processing instructions stored in the memory, wherein the instructions issue signals to:
obtain a search query from a searcher;
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 and pricing input factors;
monitor customer fuel offering orders and exercises;
store information regarding the monitored customer fuel offering orders and exercises as monitored information;
adjust fuel offering prices based on the monitored information;
provide the fuel offering at an offer price comprised of the strike price and premium price for selection by customers.