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to No. 2 oils, will be revoked by separate order to reflect

the exeniption amendments adopted today.

Revocation of Part 215

The exemption amendments adopted today result in an end

to the effectiveness of Part 215 of FEA's regulations, since

middle distillates constitute the greatest part of the fuels that remain subject to Part 215. FEA is therefore revoking

Part 215, the Low Sulfur Petroleum Products Regulation.

Effective Date and Standby Authority

Comments and testimony received with respect to the time necessary between the promulgation of the exemption

amendment and its implementation generally supported FEA's tentative conclusion that July 1, 1976 is the most appropriate

effective date for the exemption of No. 2 oils.

In particular,

the comments noted that an early effective date was necessary

to facilitate the implementation of " summer fill" and other

inventory maintenance programs historically utilized in the

marketing of No. 2 oils.

Section 12 (f) of the EPAA provides that following the

exemption of any product from regulation, FEA shall have the authority at any time to re ose price and allocation

controls if necessary to attain the objectives of the EPAA.

For this reason, FE is adopting amendments which stay the effectiveness of Subpart G of Part 211 and of the general

price regulations as they would otherwise apply to No. 2

oils without deleting those regulations from the Code of

Federal Regulations.

They are in effect converted to standby

status, so that in the event of shortages or other occurrences

which might require reimposition of controls, they may be

quickly put into effect.

(Emergency Petroleum Allocation Act of 1973, Pub. L. 93-159, as amended by Public L. 94-163; Federal Energy Administration Act of 1974, Pub. L. 93-275; E.O. 11790 (39 FR 23185)).

In consideration of the foregoing, Parts 210, 211 and

212 of Chapter II, Title 10 of the Code of Federal Regulations,

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are amended and Part 215 is revoked as set forth below,

effective July 1, 1976 or the first day following the expiration

of the 15-day review period under section 551 of the EPCA,

whichever is later, unless this amendment is disapproved by

either House of Congress pursuant to the review procedures

set forth in section 551 of the EPCA.

Issued in Washington, D.C., June 15, 1976.

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1.

Section 210.35 of Part 211 is amended by the addition of

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(b) No. 2 heating oil and No. 2-D diesel fuel are

exempt from the provisions of Part 211 and Part 212 of this

chapter.

2.

Section 211.1 is amended in paragraph (b) by the addition

of a nei subparagraph (5) to read as follows:

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(5) Notwithstanding the provisions of Subpart G of this

part, No. 2 heating oil and No. 2-0 diesel fuel, as defined

in s 212.31 of this chapter, are excluded from this part.

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"Covered products" means aviation fuels, benzene,

butane, crude oil, gas oil, gasoline, greases, hexane,

kerosene, lubricant base oil stocks, lubricants, naphthas,

natural gas liquids, natural gasoline, No. 1 heating oil and No. 1-D diesel fuel, propane, special naphthas (solvents),

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toluene, unfinished oils, xylene, and other finished products. A blend of two or more particular covered products is considered to be that particular covered product constituting the major

proportion of the blend.

4.

Section 212.83 is revised in subparagraph (2) of paragraph

(d), to read as follows:

S 212.83 Price rule.

*

*

(d) Realloaction of increased costs among product categories.

(2) No. 2 oils.

(i) To the extent that a refiner does not allocate

its increased costs for No. 2 oils to maximum allowable

prices for No. 2 oils, it may instead allocate that part of

its increased costs for No. 2 oils only to maximum allowable

prices for gasoline.

No increased costs for No, 2 oils may

be reallocated to maximum allowable prices for general

refinery products or aviation jet fuel.

(ii) Beginning on April 21, 1976, no increased

costs for No. 2 oils may be reallocated to maximum allowable

prices for any other covered product.

5.

Section 212.93 is amended in clause (ii) of subparagraph (2)

of paragraph (i) to read as follows:

S 212.93 Price rule,

*

(i) Reallocation of increased product costs among products.

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(A) To the extent that a seller does not allocate its

increased product costs for No. 2 oil to the prices for that

product, it may reallocate the unallocated part of its

increased product costs for that product to the prices for

gasoline, in whatever amounts the seller deems appropriate. No increased product costs for No. 2 oils may be reallocated

to the prices for any general refinery product or products,

including propane, or for aviation jet fuel.

(B) Beginning on April 21, 1976, no increased costs for

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No. 2 oils may be reallocated to maximum allowable prices

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