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Inventories
6 Months Ended
Jun. 30, 2013
Inventory Disclosure [Abstract]  
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 June 30, 2013 and December 31, 2012, the carrying value of inventories under the LIFO method was $553.4 million and $571.2 million, respectively, less than such inventories would have been valued using the first-in, first-out (FIFO) method.