Inventories

6 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

INVENTORIES

3.    INVENTORIES

Inventories consisted of the following (in millions):

	June 30, 2022		December 31, 2021
Refinery feedstocks	$	1,888	$	1,995
Refined petroleum products and blendstocks	4,328		3,567
Renewable diesel feedstocks and products	319		135
Ethanol feedstocks and products	315		273
Materials and supplies	297		295
Inventories	$	7,147	$	6,265

As of June 30, 2022 and December 31, 2021, the replacement cost (market value) of last-in, first-out (LIFO) inventories exceeded their LIFO carrying amounts by $9.7 billion and $5.2 billion, respectively. Our non-LIFO inventories accounted for $1.5 billion and $1.4 billion of our total inventories as of June 30, 2022 and December 31, 2021, respectively.