alarm:clock

eCommerce - Monday, May 21, 2007

PriceLock To Launch With Gas Pre-bought Gas Price Guarantee

We came across an interesting eCommerce startup today - Dallas-based Pricelock says it will allow people to buy gas today at the going rate - say $3.50 and get that price in two months whether or not the price has gone up or down. Pricelock plans to offer other commodities under this system in the future.

The startup's CEO is Brian Reed who was Vice-President - Internet at Capital One Auto Finance.

Pricelock first offering will involve gasoline price management and price protection solutions. Through website and through instant messaging and emails, Pricelock says it will provide its community of member customers with advanced tools and other services that will allow them to
+Evaluate current gasoline purchase options, assess future gasoline price trends
+ Obtain flash news briefs on events that may impact gasoline prices
+ Purchase gasoline price management and price protection solutions
+ Monitor and manage their “virtual price-protected gasoline reserves” in real time and
+ Take physical delivery of gasoline using a proprietary Pricelock gasoline fuel purchase card and/or credit card accepted at retail locations.

Future offerings are envisioned providing commodity pricing and management solutions for natural gas, home heating oil, electricity and other high volume commodity groups that experience significant price volatility.