Fair Marketing of Petroleum Products Act

Summary

Fair Marketing of Petroleum Products Act - Makes it unlawful for any person engaged in commerce in the business of refining petroleum into gasoline and other petroleum products and furnishing such products to petroleum distributors for sale at retail to fail to furnish gasoline or any other petroleum product to a petroleum retailer, whether or not such retailer is under a franchise to such person, at wholesale prices and in reasonable quantities so long as such person continues to furnish gasoline or any other petroleum product to petroleum retailers who are under a franchise to such person. States that a violation of this Act shall be an unfair or deceptive act or practice in commerce within the meaning of the Federal Trade Commission Act. Sets forth acts which will be considered prima facie evidence of a violation. Provides that, except as otherwise provided, a petroleum distributor whose actions affect commerce shall be liable to a petroleum retailer who sells the products of such distributor under a franchise for actual damages resulting from the termination, cancellation, or failure to renew such franchise, together with such equitable relief, including interim equitable relief, as the court deems proper and costs including a reasonable attorney's fee. States that no such action may be brought if the terms of such franchise provide for binding arbitration of disputes arising under such franchise, including disputes related to the termination, cancellation, or failure to renew such franchise, in accordance with the rules of the American Arbitration Association. Directs the Federal Trade Commission to cause to be conducted a study of economic forces, market power, and practices in the marketing of gasoline and other petroleum products to the American consumer including the effects of petroleum producers being directly or indirectly operating as petroleum distributors and petroleum retailers and shall report thereon, including recommendations for legislation, to the President and the Congress simultaneously not later than two years after the date of enactment of this Act.

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Documents

2 official files

• Passed Senate amended

  summary · EN · 7 August 1974

  Open at official source

• Introduced in Senate

  summary · EN · 3 May 1973

  Open at official source

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