A bill to compel the removal of mandatory allocation controls from middle distillates and to convert the authority to require the allocation of this category of petroleum products to a standby status.

Directs the President to remove mandatory allocation controls from the class of petroleum products known as middle distillates. Stipulates that standby allocation authority shall remain in force with respect to such products.

Defines the term "middle distillates" to include number 2 heating oil, number 2-D diesel, fuel, number 1 heating oil, number 1-D diesel fuel, and kerosone, as further defined in regulations issued pursuant to the Emergency Petroleum Allocation Act of 1973.