The legislative history of the exemption (Sec. 794.101) shows that
the proponents of an amendment to provide the relief which it grants
from the overtime pay provisions of the Act were organizations of
independent local merchants who did not as a rule engage extensively in
interstate operations such as those typical of major oil companies, and
who functioned primarily at the local level in distributing petroleum
products at wholesale or in bulk. As a result the exemption provided by
the Act, like that requested, was limited to enterprises which are
``local'' (Sec. 794.113) and are ``independently owned and controlled''
(Secs. 794.114-794.118).