A bill to provide for the protection of franchised dealers of petroleum products.

Prohibits a petroleum refiner or distributor from cancelling, failing to renew, or otherwise terminating a franchise unless he furnishes notification in writing to each affected distributor or retailer by certified mail not less than ninety days prior to the date on which such franchise will be canceled, together with a statement of the reasons of such cancellation and of the remedies available.

Provides that a petroleum refiner or distributor shall not cancel, fail to renew, or otherwise terminate a franchise unless the retailer or distributor whose franchise is terminated failed to comply substantially with any essential and reasonable requirement of such franchise or failed to act in good faith in carrying out the terms of such franchise or unless such refiner or distributor withdraws entirely from the sale of petroleum products (other than crude oil) in commerce for sale other than resale in the State in which such franchise is canceled, not renewed, or otherwise terminated.

States that if a refiner or distributor engages in conduct prohibited under this Act, a retailer or distributor may maintain a suit against such refiner or distributor.