A bill to authorize and require the President to ration gasoline and diesel fuel; to provide for the delegation of authority, and for other purposes.

Requires the President, under the Emergency Petroleum Allocation Act, to establish a program for the rationing and ordering of priorities among classes of end-users of gasoline and diesel fuel.

Prohibits the imposition of any tax, user fee, or tax credit or deduction on gasoline or diesel fuel by rule or order under this Act.

Extends the mandatory allocation provisions of the Emergency Petroleum Allocation Act until December 31, 1975.