Inventories

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

INVENTORIES

4.    INVENTORIES

Inventories consisted of the following (in millions):

	December 31,
	2024		2023
Refinery feedstocks	$	2,167	$	2,223
Refined petroleum products and blendstocks	4,016		3,790
Renewable diesel feedstocks and products	872		913
Ethanol feedstocks and products	342		313
Materials and supplies	364		344
Inventories	$	7,761	$	7,583

As of December 31, 2024 and 2023, the replacement cost (market value) of LIFO inventories exceeded their LIFO carrying amounts by $4.0 billion and $4.4 billion, respectively. Our non-LIFO inventories accounted for $1.3 billion and $1.5 billion of our total inventories as of December 31, 2024 and 2023, respectively.