A bill to amend section 4 of the Emergency Petroleum Allocation Act of 1973 to direct the President to establish ceiling prices on petroleum and related goods.

Directs the President to exercise his authority under the Emergency Petroleum Allocation Act and under the Economic Stabilization Act to specify ceiling prices for sales of crude oil, refined petroleum products, residual fuel oil, and for goods and services directly related to their production, refining, and transportation, produced in or imported into the United States, which avoid price increases resulting from the current energy emergency.

Requires that such ceiling prices shall provide for no more than: (1) a passthrough for crude petroleum production cost increases actually incurred; and (2) a passthrough at any level of supply or distribution for refined petroleum products or residual fuel oil of crude oil, refining, transportation, and marketing costs actually incurred.