Inventories	9 Months Ended
Sep. 30, 2011
Inventories	Note C – Inventories Inventories are carried at the lower of cost or market. The cost of crude oil and finished products is predominantly determined on the last-in, first-out (LIFO) method. At September 30, 2011 and December 31, 2010, the carrying value of inventories under the LIFO method was $824.5 million and $735.1 million, respectively, less than such inventories would have been valued using the first-in, first-out (FIFO) method.

Inventories

9 Months Ended

Sep. 30, 2011

Note C – Inventories

Inventories are carried at the lower of cost or market. The cost of crude oil and finished products is predominantly determined on the last-in, first-out (LIFO) method. At September 30, 2011 and December 31, 2010, the carrying value of inventories under the LIFO method was $824.5 million and $735.1 million, respectively, less than such inventories would have been valued using the first-in, first-out (FIFO) method.