Markets Wired

The Commission has approved a Federal Register notice seeking comment on the agency’s Fuel Rating Rule (16 CFR Part 306), as part of its systematic review of its rules and regulations. As detailed in the notice, which will be published soon and is available now on the FTC’s Web site as a link to this press release, the Rule, which was first developed in 1979, requires that refiners, importers, and producers of covered automotive fuels determine those fuels’ ratings before transferring them to a distributor or retailer. For gasoline, the fuel rating is the octane rating. For alternative fuels, other than biodiesel, the rating is the minimum percentage of the principal component of the fuel. For biodiesel fuels, it is the percentage of biodiesel or biomass-based diesel in the fuel. The Rule also requires each business transferring fuel to provide a certification of its rating to the transferee and requires retailers to post the fuel rating on their pumps.

As part of the review process, the FTC is seeking public comments on the Rule’s benefits and burdens on business, as well as whether modifications are needed to increase its benefits, reduce its costs, or address changes in relevant technology, economic conditions, or current law. Information about how to submit comments can be found in the notice. Comments must be received by May 15, 2009. The Commission vote approving the Federal Register notice was 4-0. (FTC File No. R811005; the staff contact is Matthew Wilshire, Bureau of Consumer Protection, 202-326-2976.)

Copies of the documents mentioned in this release are available from the FTC’s Web site at http://www.ftc.gov and from the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. Call toll-free: 1-877-FTC-HELP.

(FYI 9.2009.wpd)