The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Sep. 13, 2011
Filed:
Feb. 12, 2008
Robert M. Fell, Summerland, CA (US);
Scott Painter, Bel Air, CA (US);
Michael R. Bonsignore, Seattle, WA (US);
Brian P. Reed, Southlake, TX (US);
Gary A. Magnuson, Corpus Christi, TX (US);
Thomas D. Gros, Houston, TX (US);
Robert M. Fell, Summerland, CA (US);
Scott Painter, Bel Air, CA (US);
Michael R. Bonsignore, Seattle, WA (US);
Brian P. Reed, Southlake, TX (US);
Gary A. Magnuson, Corpus Christi, TX (US);
Thomas D. Gros, Houston, TX (US);
Pricelock, Inc., Irving, TX (US);
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.