A bill to amend the Emergency Petroleum Allocation Act of 1973 to provide for the equalization of residual fuel oil prices charged to public, private, and investor-owned utilities and other persons using such oil.

Directs the President to exercise his authority under the Emergency Petroleum Allocation Act of 1973 to equalize the ceiling price throughout the United States at which residual fuel oil is sold or exchanged so as to assure equitable electric power rates and charges throughout the United States.