Pricelock, Inc.

Thomas D Gros

Gary A Magnuson

Robert M Fell

Scott Painter

Brian P Reed

Michael R Bonsignore

Hal Connor Elrod

Bradley Michael Weill

Systems and methods described herein pertain to providing price protection programs related to the purchase of a commodity to a consumer. Embodiments of such a program may provide price protection related to the purchase of a commodity to the consumer so that when a consumer purchases the commodity, the price the consumer pays for the commodity may be determined under the provided program. Embodiments of these programs may be quite useful in incentivizing consumers in certain ways, including to seek or obtain employment from a particular employer.

Method and system for providing price protection related to the purchase of a commodity

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.

System and method for estimating forward retail commodity price within a geographic boundary

Growing community of inventors

Houston, TX, United States of America

Thomas D Gros