Patent ID: 8019694
Filing Date: 2011-09-13
Classification: G06Q

Abstract:
1. A method for determining a forward retail price of a commodity, comprising: determining, by a computer system comprising a processor and a non-transitory computer-readable medium, a current retail price of the commodity for a specific location within a geographic boundary, wherein the current retail price of the commodity comprises a wholesale price component, a total markup component, and a tax component, and wherein the total markup component comprises a rack markup component and a retail markup component; subtracting, by the computer system, an estimated total markup of the commodity for the specific location from an aggregated composite retail price of the commodity for the specific location to generate an estimated current wholesale price of the commodity for the specific location; and creating, by the computer system, a forward market curve indicating forward retail price of the commodity for a corresponding period of time within the geographic boundary, wherein creating the forward market curve comprises: determining, by the computer system, a rate of change between retail pricing and wholesale pricing for the commodity over a past period of time for each location within the geographic boundary on a monthly basis; forecasting, by the computer system, future wholesale prices and estimated total markup for each location within the geographic boundary on a monthly basis; calculating, by the computer system, an estimated forward retail price for each location within the geographic boundary on a monthly basis based on a plurality of factors, wherein the plurality of factors includes the current retail price of the commodity, the estimated current wholesale price of the commodity, and the rate of change; and aggregating, by the computer system, the estimated forward retail price, location by location, within the geographic boundary on a monthly basis.