Here you will find a list of commonly used terms on Gasology.
Adjustments: Adjustments consist of any additional costs to be associated with the fuel price of a product. These costs can include transportation, additive, margin, location, quality, or other adjustments.
Base Price: A base price is the price of fuel at its source. Base prices may include refinery costs, taxes, any additives, margins, and strategies managing the price for specified period.
Blend Count: In Gasology, blend count offers insight to the number of products blended together to create a finished product.
Blend/Blendstock: Any material or product that is blended in an oil refinery or distribution location to make a new product. For example, ethanol can be blended with gasoline to create a finished fuel product.
Buyer: An entity who is purchasing fuel products from a merchant. This could be a large package delivery service, a municipality buying fuel for their trucks, a large trucking fleet, or retail consumers. Fuel purchased is final and is not for resale.
Connectivity: A network of relationships between fuel suppliers and consumers.
Contingent Merchant/Supplier: Any supplier of motor fuel offering fuel at a price that is dependent upon their supplier. For example, a gas station may offer fuel at a price dictated by the price they receive from their upstream supplier like a refinery.
Contingent Merchant: A contingent merchant prices their product dependent upon their supplier’s price to them. They do not produce the fuel they sell but operate instead as a conduit between the originating merchant and their customers.
Contingent Thread: A contingent thread refers to listed transacting parties participating in the purchase or sale of fuel on the Gasology platform. The purchase by an end user will result in sales from all parties who have priced the fuel in the supply chain.
For example, consider a gas station that prices fuel based upon (contingent to) the price they receive from their upstream distributor who prices fuel based upon the price they receive from a refinery. A contingent thread starts when gallons are bought by the final retail customer from the gas station. Those gas station gallons are tied in a transaction that moves up to the distributor, all the way back to the refinery that originally produced those gallons.
Corporate Program: A type of program specific to a single company. For example, a corporate program would be used for creating your common fuel rewards program when selling to a specific customer.
Customer/Consumer: Any user who purchases fuel from a connected supplier on the Gasology platform.
Enrollment: When designing programs, customers can either be assigned to a closed program or purchase fuel that is priced with an open program.
Open programs are accessible by any customer.
Closed programs offer merchant users options in price customization.
Facility: A physical location where motor fuel products are sold. A facility can be a refinery, a terminal, distributor, or gas station. The location where fuel is sold is an important factor in how fuel is priced at that location.
FOB: “Free on board” – refers to commercial law, specifying at which point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer.
FOB Destination (Buyer): FOB Destination is used when customers arrange to have product delivered by the merchant to the customer’s physical location.
FOB Origin (Seller): FOB Origin occurs when customers arrange to pick up product from the seller’s physical location.
Fuel Merchant/Supplier: Any entity selling fuel products, this could be a refinery, terminal, distributor, or gas station.
FuelStrat: Gasology’s FuelStrat is our web-based marketplace simulator giving users hands-on experience with Gasology’s innovative and powerful tools. FuelStrat screens replicate the user experience that Gasology’s production version offers creating a risk-free environment for users.
FuelWallet: Gasology’s virtual tank displaying all reserved gallons by period, delivery method, product, and vessel type for Business Solutions customers.
Future Fuel: Motor fuel that can be reserved and purchased days, months, and years ahead of its actual delivery and/or use.
Futures: Standardized contract for the future purchase or sale of a commodity at a specified location and point in time.
Gasology Quantity: Delivered gallons to a customer may a combination of Gasology reserved gallons and gallons that are delivered at the spot price. The number of gallons that were reserved on Gasology are accounted for as the Gasology Quantity versus the spot purchases which are referred to as non-Gasology gallons.
Gasology: A cloud-based e-commerce fuel marketplace where suppliers can offer motor fuel for consumers to purchase that will be delivered at a specified period in the future. The platform is both web-enabled and deployed as a smartphone app for retails customers.
Index: An Index is a price or quantity value created by a fuel merchant. Indexes are the price and volume components of a fuel that is priced for future delivery. In Gasology, there are two types of indexes, price (in dollars), and order (in gallons) indexes. Once created, an index is inventoried and can be applied as often as desired.
Margin Strategy: An algorithm that manages the merchant’s profit margin over periods. When applied to a design a margin strategy will vary the merchant’s profit margin depending upon the period.
Merchant Products: Merchant products are the products a merchant selects to sell at their facilities. If products are not selected and included in the list of merchant products (in Merchant settings), they will not be available to assign to unique facility locations.
Order Index: An index to reflect the quantity offered for a specified period. Periods can range from days or month, to years.
Order Strategy: An algorithm managing the quantity offered over a number of periods. When applied to a design, an order strategy will vary the quantity offered for sale.
Originating Merchant: An originating merchant produces or holds the product being priced for future delivery in inventory.
Position: Position refers to the number of outstanding reserved gallons a user has yet to pick up/be delivered.
Price Index: Price indexes are the components that, when linked together, create the base price for the fuel products a merchant is offering.
Price indexes have a dollar value and are categorized to reflect the fuel’s price, location, quality, transportation, additives, and margin components.
Price Strategy: An algorithm managing the offer price over a number of periods. When applied to a design, a price strategy will vary or change the offer price depending upon the period.
Program: A program reflects ‘who’ fuel is sold to. Every Gasology consumer is connected to fuel through a program.
Attached to Structures, programs provide merchants options for offering discounts or loyalty rewards for both retail and corporate accounts.
Programs can be ‘closed’ where customers are assigned to the program by the merchant, or ‘open’ and available to any customer.
Programs (Active and Inactive): If a program is set to active, customers may use and enroll in the program. Merchant users can also set a program to inactive if desired.
Refinery: Refineries carry out the process of refining crude oil into finished products like industrial fuel, diesel, kerosene, and gasoline.
Relative Period pricing: A designed period price that will roll over the next period as each day expires.
Specific Period pricing: A price created specifically for a defined period that will not roll over as the period expires.
Spot Price: The spot price is the current market price at which an asset is bought or sold for immediate payment and delivery.
It is differentiated from the forward price; the price at which an asset can be bought or sold for delivery in the future.
Strategy: An algorithm managing the price and/or quantity offered over periods. When applied to a design, a price strategy will vary the offer price depending upon the period. In similar fashion, an order strategy will vary the offer quantity.
Structure: A structure reflects ‘how’ the fuel from a merchant facility is sold.
A structure is the method in which fuel is sold and the costs incurred. Structure costs can be physical (i.e. truck, pipeline, pump) or financial (i.e. retail or wholesale). For instance, fuel sold by pipeline wholesale will have different costs (and therefore a different structure) from fuel sold by truck to retail customers.
Structure Program: A program used for selling fuel to multiple customers.
System Products: System products are those supported by the Gasology environment. This is a predefined list of fuel products that cannot be changed by the user.
Terminal: An industrial facility used for the storage of oil, petroleum and petrochemical products, and from which these products are transported to end users or other storage facilities.
Vessel: In Gasology, vessels are physical locations where a consumer takes delivery of fuel. Vessels are physical locations that can be static, like a private tank, dynamic like a fleet vehicle or semi-truck, or a geographic location like a rail yard.
Merchant Solutions Platform Tabs
- Dashboard – Quickly view Contingent Suppliers, Customers, base prices, connections, and price indexes for your organization
- Find Fuel – Find and purchase fuel with Gasology
- Facilities – Access, manage, and monitor all your facilities from a single location
- Activity – Get a bird’s eye view of your reservation activity
- Indexes / Strategies – Manage the components you use to build base prices
- Design – Create customized pricing for any period
- Deliver / Receive – View your shipments and deliveries, in addition to unshipped gallons
- Structures – Manage your structures
- Programs – Manage your programs
- Connectivity – Invite and manage your supplier relationships
- Requests – View and manage your customer fuel requests based on indicative prices
- Merchant Settings – Set up and manage your settings in the Gasology environment
Business Solutions Platform Tabs
- Dashboard – Quickly view your FuelWallet and any reserved gallons
- Find Fuel – Find and purchase fuel with Gasology
- Activity – Get the complete picture for your fuel reservations
- Connectivity – Invite and manage your supplier relationships
- Deliveries – View your shipments and deliveries or create a new shipment
- Vessels – Manage your organization’s delivery locations
- Requests – View and manage your fuel requests based on indicative prices
- Settings – Set up and manage your settings in the Gasology environment
Categories Defined:
- On Road: Any vessel that physically moves across a road surface
- Private Tank: Private tank includes both private and commercial private tanks. These tanks could be used for storage or distribution purposes.
- Aviation: Aviation includes fixed wing vessels, hydrants, and fuel trucks
- Marine: Marine vessels include tanks that float, like ships or tugboats that are taking on gallons.