A bill to amend the Economic Stabilization Act of 1970 to provide for equitable allocation of costs among petroleum products in the administration of any price control authority and to stabilize the price of liquefied petroleum gas.

States that in administering any pricing authority under the Economic Stabilization Act of 1970 the President shall, by rule, provide for equitable allocation of costs among different petroleum products. Provides that such rules shall require that only those costs directly related to the production of liquefied petroleum gas for purposes of establishing any price for such gas.