AAA Arizona Partners with Pricelock to Protect Fleet from Rising Fuel Prices

REDWOOD CITY, CA--August 9, 2011: AAA Arizona, the Arizona affiliate of AAA, has recently partnered with Pricelock, the online leader in fuel hedging and fuel price protection programs for U.S. businesses, to help control fuel costs for the club’s towing services in Arizona.

“AAA Arizona responds to more than 450,000 calls for roadside assistance across the state each year”

“AAA is the recognized leader in assisting motorists and travelers throughout America and knows firsthand the impact volatile gas prices can have on a business. By implementing Pricelock’s Fuel Price Protection plan, AAA Arizona is proactively managing its fuel expense and protecting its bottom line. They understand gas prices and we are delighted to have them as a customer,” said Naveen Agarwal, CEO of Pricelock.

“AAA Arizona responds to more than 450,000 calls for roadside assistance across the state each year,” said Keith Cowan, CFO & VP Membership for AAA Arizona. “We believe that this partnership will help keep our operating costs at bay so that we can continue to provide our members quality service and the safety, security and peace of mind they’ve come to expect from us.”

Pricelock’s Fuel Price Protection plan enables AAA Arizona to cap a maximum paying point for gas and diesel prices. If the U.S. Department of Energy’s monthly national average exceeds that price while the club’s protection plan is in place, Pricelock will pay the club the difference. AAA Arizona is not locked into the protection price and is free to benefit from lower prices during the plan period. There is no change in how the club typically purchases its fuel and it will not penalized if fuel prices fall since the maximum paying price is capped, not locked in.

About Pricelock

Pricelock, headquartered in Redwood City, CA, offers online fuel and energy solutions to businesses of all sizes. Pricelock’s Fuel Price Protection plans empower businesses large and small to control fuel costs in ways that were previously only available to the largest fuel buyers. Pricelock Marketplace is the first customized, online energy auction platform that allows utilities, power plants, government and large commercial and industrial companies to buy and sell both natural gas and motor fuels. Miles Ahead is Pricelock’s innovative discount gasoline incentive program that helps U.S. businesses reduce their employee’s daily driving costs. Pricelock has been awarded the 2010 Rising Star Award of Excellence by Platts Global Energy Awards and the 2010 Risk Innovator Award by Risk & Insurance.

About AAA Arizona

AAA Arizona, the Arizona affiliate of AAA, provides automotive, insurance, vacation planning, discounts and financial services to more than 800,000 Arizona members. Annually, AAA’s Roadside Assistance responds to more than 450,000 calls across the state. In 2008, AAA was ranked the No. 1 “socially responsible” brand by Landor’s BrandAsset® Valuator. In 2010 and 2011, AAA Travel earned Lovin’ Life After 50’s favorite travel agency category in the publication’s annual reader’s choice awards. Since its founding in 1927, AAA Arizona has been a leading advocate for the safety and security of all travelers and the motoring public.