Pricelock is an American oil company. It provides
fuel hedging
Fuel hedging is a contractual tool some large fuel consuming companies, such as airlines, cruise lines and trucking companies, use to reduce their exposure to volatile and potentially rising fuel costs. A fuel hedge contract is a futures contract ...
for
small and medium-sized enterprises
Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by many national agencies and international organiza ...
.
Company history
Founded in 2006, Pricelock is headquartered in Redwood City, California.
A deal with Chrysler in May 2008 guaranteed new-car buyers a gasoline price of $2.99 for three years. While the deal didn't stop Chrysler from going into bankruptcy, it brought Pricelock 24,500 new customers, and led to a similar deal with Hyundai. In March 2011, Pricelock raised over $12 million in second-round financing, and expects to be profitable by the end of 2012.
See also
*
Fuel hedging
Fuel hedging is a contractual tool some large fuel consuming companies, such as airlines, cruise lines and trucking companies, use to reduce their exposure to volatile and potentially rising fuel costs. A fuel hedge contract is a futures contract ...
*
Fuel price risk management Fuel price risk management, a specialization of both financial risk management and oil price analysis and similar to conventional risk management practice, is a continual cyclic process that includes risk assessment, risk decision making and the imp ...
*
Fleet management
References
External links
* {{Official website
Companies based in Redwood City, California