Abstract: A regulator is disclosed for receiving gas from a variable-pressure supply, to safely provide gas as to consuming appliances, in demand quantities and at a regulated pressure. A valve body of the regulator provides a metering passage between high and low pressure chambers, the low pressure chamber being isolated from ambient pressure by a spring-biased diaphragm. A valve stem is affixed to the diaphragm so as to extend through the metering passage and support a valve member for operation in cooperation with a first valve seat that is defined contiguous to the metering passage in the valve body. The valve member also defines a second valve seat and is spring biased for sliding movement on the valve stem so as to provide two distinct valve actions for high and low pressure operation. Accordingly, relatively consistent pressure is maintained over a wide range of flow rates as well as variations in the supply pressure.