Retail price hedging

#1. Field of the Invention

#Embodiments of the present invention relate to providing retail consumers with a mechanism for hedging against increases in the price of price-volatile commodities, such as gasoline or other goods.

#2. Description of Related Art

#FIG. 1 is a schematic diagram showing aspects of a system for managing a retail price insurance system according to an embodiment of the invention.

#FIG. 2 is a chart showing exemplary aspects of an operating price insurance system according to an embodiment of the invention.

#FIG. 3 is a block diagram showing exemplary aspect of a system for retail price insurance according to an embodiment of the invention.

#In the detailed description that follows, like element numerals are used to indicate like elements appearing in one or more of the figures. FIG. 1 is a schematic diagram showing aspects of a system 100 for managing a retail price insurance system according to an embodiment of the invention. It should be appreciated that the system may be implemented on any suitable computing platform.

#System 100 may comprise any suitable computer 102, for example a general-purpose or a special-purpose computer, or a bank or other network of cooperating computers, configured to carry out steps of the methods described in this disclosure. Instructions for performing steps of the methods may be encoded on any suitable magnetic, optical, or other digital storage medium 104 using any suitable programming language. The instructions should be configured to cause the computer to perform operations as described herein. In addition, computer 102 may be operably connected to a database or other storage operator 106 for holding data used in the methods described herein, for example, account and account holder identifying information, purchase records, and price insurance policy records. One of ordinary skill may construct a suitable database or other computer storage record based on the disclosure herein.

#Computer 102 may be connected via any suitable communications network 108 to a plurality of point-of-sale terminals 110, 112 (two of many shown). Network 108 may comprise elements of different networks, for example wired and wireless elements. The point-of-sale terminals may be configured to receive and process purchaser account data. For example, the terminals may be equipped with card readers 114a, 114b for reading magnetic media cards 116a, 116b. Other methods of providing consumer data to a point-of-sale machine are known in the art, for example, optical codes/readers or RFID devices, and any suitable method may be used.