Crude by Rail Volatility Standard Act This bill establishes a maximum volatility standard for crude oil. Specifically, the bill prohibits the transportation by rail of crude oil with Reid vapor pressure (a measure of gasoline's volatility) of more than 9.5 pounds per square inch (the maximum volatility set by the New York Mercantile Exchange for crude oil futures contracts), and directs the Pipeline and Hazardous Materials Safety Administration to finalize a rule setting a maximum volatility standard for crude oil and other hazardous materials transported by rail.