To provide a penalty for increasing oil prices within 30 days after a declaration of war, the onset of military police action, or a major oil spill.

Establishes penalties for increasing the price charged for crude oil or a refined petroleum product within 30 days after a declaration of war, the introduction of U.S. armed forces into hostilities (or into situations where involvement in hostilities appears imminent), or receipt of a notification of an oil spill by a Federal agency under the Federal Water Pollution Control Act, unless the price increase is justified by the actual cost of such crude oil or product to the person who increased the price.

Requires a notification of a declaration of war, the introduction of U.S. forces into hostilities, or the receipt of notification of an oil spill to be published in the Federal Register as soon as possible after the occurrence of such event.