New At priceline.com: Name Your Own Price For Gasoline On The Internet, Then Get Your Price At A Local Gas Station!
The petroleum industry's next consumer breakthrough:
From pump your own gas to price your own gas
- Save 10 to 20 cents a gallon or more on every fill-up
- Lock in your own price for up to a full month's worth of gas
- Let Priceline WebHouse Club pick the gas station from three of your
- Use the Internet to get gas prices lower than anywhere else
- Consumers prepay their price online, so they can ignore the price at
- 4 million priceline.com customers and WebHouse Club customers will
receive Priceline for Gasoline cards absolutely free
- Local gas stations nationwide can team up with priceline and directly
benefit from the e-commerce revolution
STAMFORD, Conn., Feb. 25 /PRNewswire/ -- With the cost of gasoline at a 10-year high, an estimated 170 million adult drivers in the U.S. are wondering -- what can I do about it? The answer may surprise you. Now, the most powerful force in the history of commerce -- the Internet -- is about to help consumers substantially reduce their gasoline costs. Starting May 20th, Priceline WebHouse Club, a licensed affiliate of priceline.com (Nasdaq: PCLN), will launch a new service that makes it possible for drivers to simply ignore the price at the pump. Instead, they can go to priceline.com on the Internet and name their own price for up to 50 gallons of gas a month. After locking in their price in 60 seconds or less, drivers can get their gas at local major-brand gas stations selected by Priceline WebHouse Club. The service will be offered in cities and towns across the U.S. With Priceline for Gasoline, drivers can expect to save 10 to 20 cents a gallon, and sometimes more. The secret to the savings? Priceline WebHouse Club gets money from several sources to significantly lower the gas prices its customers pay. For example, participating local gas stations pay WebHouse Club a few cents per gallon to get incremental business coming to their stations. In addition, the Priceline for Gasoline service will have paid online advertising, with some of those ad dollars used to reduce customers' gas prices. And, at launch, over 100 national sponsors will contribute to Priceline WebHouse Club customers' gas purchases in return for customers' agreeing to try their products and services. Finally, Priceline WebHouse Club expects major oil companies to support the system with additional savings in return for getting new customers for their gasoline and related products, as well as for the oil companies' own proprietary gasoline credit cards. "The Internet promises to change people's lives for the better in meaningful ways," said Jay S. Walker, founder of the Priceline WebHouse Club and priceline.com. "Until recently, the Internet has been primarily about convenience when shopping online for books, software, and music. WebHouse Club takes a different approach -- Priceline WebHouse Club is about saving money on the everyday items for tens of millions of consumers, beginning with groceries and now, gasoline." A recent survey by Opinion Research Corporation International of Princeton, NJ, shows that consumers are very aware of rising gas prices and are actively looking for alternative ways to reduce the prices they're paying. 90% of drivers who buy gas for their own vehicles, or 153 million U.S. adults, remember the per-gallon price they paid for their last fill-up. More than half of all those drivers now say that price always or frequently dictates their selection of gas stations. Many of the drivers said they would be willing to switch stations for a 10- to 20-cents a gallon discount. More than half of those drivers surveyed said they expect even higher gas prices in the next six months. Walker continued, "This is the perfect time for consumers to do something about the high cost of gas. It's the battle of the titans -- the global Internet vs. global gas prices. OPEC was a force to increase the cost of gas. Now, the Internet is the new counter-force to lower it." It's As Easy As 1-2-3 To Name Your Price for Gas Naming your own price for gasoline on the Net is as fast and easy as using an ATM machine. Consumers simply follow these 3 simple steps: 1. Get a Priceline for Gasoline gas card -- Priceline WebHouse Club will express-mail you one free. To name your own price for gas you'll need to get a Priceline for Gasoline gas card, which is yours free from Priceline WebHouse Club. (The blue gas card is different from the green card used by WebHouse grocery shoppers.) Cards are available by request 24 hours a day at the priceline.com Web site. All four million previous priceline.com customers and all WebHouse Club members will automatically receive a Priceline for Gasoline gas card free in the mail. There is no charge of any kind to get a gas card. The first time you come to the priceline.com Web site to name your price for gas, simply enter the identification number on the back of your priceline gas card and provide priceline with a major credit card or debit card account number. Your Priceline for Gasoline gas card acts like a "magic credit card" allowing you to pay no attention to the price at the pump just by using your gas card at the gas station chosen for you by WebHouse Club. 2. Tell Priceline WebHouse Club the price-per-gallon you want to pay. At the priceline.com Web site, you choose the grade of gas you want the per-gallon price you want to pay, and tell us how many gallons you want (up to 50 gallons per household per month). You then pre-approve three or more local gas stations you are willing to get your gas at. In 60 seconds or less, you'll receive a yes-or-no answer on your per-gallon price. If your price is accepted, that price is immediately locked in for up to 50 gallons of gas. Once your price is locked in, your credit or debit card on file is charged for the purchase and we'll give you the name and address of the designated local station where you can get your gas. Of course, if your price isn't accepted, there's no cost and you can try again the following day. 3. Go get your gas (and pay no attention to the price at the pump)! Drive to the gas station selected by priceline from your pre-approved list and get your gas. Ignore the big price signs; forget about the price at the pump. You've already pre-paid for your gas, at your price. After each fill-up, Priceline WebHouse Club will automatically e-mail you your receipt and tell you how much gas you have left at your price. You can also come to the Web site at any time and quickly review your account and remaining gallons. The Priceline for Gas triple guarantee means you can't lose 1. You can't overpay. If the price at the pump is ever lower than the price you named online, no matter what the reason, you pay the lower price. Priceline WebHouse Club will refund your credit card for any difference. 2. Un-pumped gas is automatically refunded to your credit/debit card. With Priceline for Gasoline, you don't need to keep track of your gas purchases. Priceline WebHouse Club will send you a receipt after each purchase with a reminder of how many gallons you have left. If for any reason you haven't pumped all of your pre-paid gas, the unused amount is automatically carried over to the following week. Any pre-paid, un-pumped gas at the end of 30 days is fully refunded. 3. You can always get a few extra gallons at your price. If you need more gasoline than you've pre-paid for at priceline, you can pump up to two extra gallons per fill-up at your priceline price. If you need more gas at that time, just pump it and you'll be charged the pump price for the extra gallons. Priceline WebHouse Club's gasoline service on the Internet is as fast and easy as using the ATM at your local bank. "Give us just 3 minutes online and you can get your gasoline for up to an entire month at your price," said T. Scott Case, president of the WebHouse Club gasoline group. "And you can name your price anywhere there's an Internet connection -- at home, at work, at a local school or library. As always, with priceline your privacy is assured. We never give out, sell or rent your name or personal data to anyone without your express permission." About WebHouse Club The WebHouse Club, a licensed affiliate of priceline.com that allows consumers to name their prices online and get their products at a major local retailer. The company launched its first service for groceries in the NY metropolitan area on November 1, 1999. In its first 13 weeks of operation, WebHouse Club has enrolled over 200,000 active members (equal to over 3% of all households in the NY metro area) with over 85% of sales already coming from repeat members. The WebHouse Club has been the fastest growing priceline service ever, with over 7.5 million grocery items sold to date. In the NY and Philadelphia areas, members are on track to purchase over 50 million grocery items in 2000. To put the WebHouse sales in context, on an average day priceline sells approximately 1,000 airline tickets to NY-area consumers (about 3% of all leisure tickets sold). During the same period, in the same market, the priceline WebHouse Club is currently selling over 125,000 grocery items daily. Most members use the service once or more each week to get savings of 20-30% in 175 grocery categories. By teaming up with local grocery stores the WebHouse Club delivers savings, not groceries. With no warehouses or inventory, priceline for groceries has quickly become the largest online grocery service in the US and the Internet's #1 e-commerce sales leader in terms of items. WebHouse Club is now available in metro New York, Philadelphia, Baltimore, Washington, DC, and Detroit. The service has announced its planned expansion to Boston and central Michigan markets within the next 30 days and a full national rollout of its grocery service by year end. Priceline WebHouse Club is an affiliated licensee of priceline.com. In return for licensing priceline's business model, intellectual property and brand, priceline.com receives royalties from WebHouse Club and has also received warrants allowing priceline.com to take a majority equity interest in WebHouse Club under certain contingent conditions. Priceline.com has provided no capital to WebHouse Club, which has raised capital from private sources. Financial results from WebHouse Club will not be included in priceline.com's financial results until those warrants are executed. Contact: Robert Padgett of Priceline WebHouse Club, 203-905-7650
SOURCE Priceline WebHouse Club
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