A bill to amend the Emergency Petroleum Allocation Act of 1973 to rollback the price of propane gas.

Requires, under the Emergency Petroleum Allocation Act, that in administering any pricing authority the President shall, by rule, provide for equitable allocation of costs among different petroleum products, including propane gas.

Provides that only costs directly related to the production of liquefied petroleum gas may be allocated by any producer to such gas for purposes of establishing any price for such gas. Requires that a base period price, reflecting the highest price of the refiner between December 1, 1972, and January 31, 1973, be established and that increases in that base price consist of a dollar for dollar pass-through of the proportionate costs incurred by the refiner for that petroleum product.

Requires that any reduction in the price of liquefied petroleum shall be passed through on a dollar-for-dollar basis to any subsequent purchaser, reseller, or final consumer in the United States.