Fair Marketing of Petroleum Products Act

Fair Marketing of Petroleum Products Act - Prohibits refiners or distributors of petroleum products from canceling, failing to renew, or otherwise terminating 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 refined petroleum products in commerce for sale in the United States.

Sets forth procedural and jurisdictional requirements for petition for an order that arbitration proceedings be initiated, and if the the arbitrator fails to find that good cause existed for cancellation, the existing contract shall be performed.

Prohibits a person who is a major market shareholder from commencing or expanding the operation of any distributorship or retail establishment whose personnel are under the control of such major market shareholder or entity controlled by such major market shareholder.

Provides that any corporation which knowingly violates such prohibition on marketing expansion shall upon conviction be fined in an amount not to exceed $1,000,000.