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<br />, I <br /> <br />TABLE 2-1. DEREGULATION OF PETROLEUM PRODUCT PRICES <br /> <br />Product <br /> <br />Residual fuels <br /> <br />Middle distillates <br /> <br />Naphthas, gas oils, <br />benzene, toluene, <br />greases, solvents, process <br />oils, lubricants <br /> <br />Naphtha jet-fuels <br /> <br />Kerosene-based jet fuels, <br />aviation gasoline <br /> <br />Butane, natural gasoline <br /> <br />Gasoline, propane <br /> <br />Date Exempted <br />June 1, 1976 <br />July 1, 1976 <br />September 1, 1976 <br /> <br /> <br />October 1, 1976 <br />February 26, 1979 <br /> <br />January 1, 1980 <br />September 30, 1981* <br /> <br />*Or earlier, if the President orders. <br /> <br />thereby removing much of the uncertainty that purchasers experience <br />during shortages. For example, wholesale purchasers of gasoline in the <br />following categories must be allowed to buy 100 per cent of their base <br />period volumes. *44 <br />. Department of Defense for essential military operations. <br />. Agricultural production. <br />. Emergency services, energy production, sanitation devices, tele- <br />communications, passenger transportation services, hauling of <br />cargo, freight, and mail by truck, and aviation ground support <br />vehicles. <br />Priority 2 status categories, composed of industrial, commercial, govern- <br />mental and social service users would receive a share proportionate to the <br />decrease in stocks experienced by suppliers. <br />Propane allocations also follow a priority status system based on base <br />period usage or current demand. Both military and agricultural users <br /> <br />*Base period volumes for each product are calculated by ERA from a <br />specific historical time-frame. <br /> <br />2-15 <br />