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Derivatives (Tables)
6 Months Ended
Jun. 30, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule Of Outstanding Derivatives Entered Into To Hedge Inventory Or Fixed Price Purchase Commitments
 
 
Sell (Short)
Contracts
 
Buy (Long)
Contracts
Not qualifying or not designated as hedges under accounting rules:
 
 
 
 
Crude oil futures:
 
 
 
 
Contract volumes (1,000 bbls)
 
157

 
81

Weighted average contract price per bbl
 
$
89.58

 
$
90.88

Heating oil futures:
 
 
 
 
Contract volumes (1,000 bbls)
 
25

 

Weighted average contract price per gal
 
$
2.56

 
$

RBOB gasoline futures:
 
 
 
 
Contract volumes (1,000 bbls)
 
12

 

Weighted average contract price per gal
 
$
2.49

 
$

#6 Fuel oil futures:
 
 
 
 
Contract volumes (1,000 bbls)
 
555

 
145

Weighted average contract price per bbl
 
$
87.00

 
$
88.15

Crude oil options:
 
 
 
 
Contract volumes (1,000 bbls)
 
285

 
70

Weighted average premium received
 
$
2.04

 
$
1.12

Schedule Of Fair Value Of Derivative Assets And Liabilities
 
Unaudited Condensed Consolidated Balance Sheets Location
 
Fair Value
 
 
June 30,
2012
 
December 31,
2011
 
Asset Derivatives:
 
 
 
 
 
  
Commodity derivatives - futures and call options:
 
 
 
 
 
 
Undesignated hedges
Current Assets - Other
 
$
695

 
$
306

  
Total asset derivatives
 
 
$
695

  
$
306

  
Liability Derivatives:
 
 
 
 
 
  
Commodity derivatives - futures and call options:
 
 
 
 
 
 
Undesignated hedges
Current Assets - Other
 
$
(2,032
)
(1) 
$
(2,820
)
(1) 
Total liability derivatives
 
 
$
(2,032
)
 
$
(2,820
)
 
 
(1) These derivative liabilities have been funded with margin deposits recorded in our Unaudited Condensed Consolidated Balance Sheets under Current Assets - Other.
Schedule Of Effect On Operating Results
 
Unaudited Condensed Consolidated Statements of Operations Location
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2012
 
2011
 
2012
 
2011
Commodity derivatives - futures and call options:
 
 
 
 
 
 
 
 
 
Contracts designated as hedges under accounting guidance
Supply and logistics product costs
 
$

 
$
(173
)
 
$

 
$
(434
)
Contracts not considered hedges under accounting guidance
Supply and logistics product costs
 
13,569

 
(13,637
)
 
2,858

 
(31,890
)
Total commodity derivatives
 
 
$
13,569

 
$
(13,810
)
 
$
2,858

 
$
(32,324
)