A bill to enable service station dealers to compete with refiner operated service stations by terminating certain petroleum allocation and pricing regulations, and to promote fair competition in the sale of motor gasoline at retail.

Repeals portions of the Emergency Petroleum Allocation Act of 1973 relating to the sale of motor gasoline at retail, effective December 31, 1980.

Prohibits a refiner of motor fuel from operating a retail service station within one mile of any retail service station with which such refiner has a franchise relationship for a period of two years if such refiner is shown through adjudication to be unreasonably underselling competitors and for a period of five years for subsequent violations of such prohibition.

Requires a refiner to comply with applicable provisions of law relating to franchise protection before such refiner converts a retail service station from a franchise relationship to operation by the refiner.