EXHIBIT 23.1


                         CONSENT OF INDEPENDENT AUDITORS


                We consent to the incorporation by reference in the Registration
Statements (Form S-8 Nos. 2-74856 and 333-54612) pertaining to the Holly
Corporation Incentive Stock Option Plan, Holly Corporation Stock Option Plan,
and Holly Corporation 2000 Stock Option Plan and in the related Prospectuses of
our report dated September 20, 2001 with respect to the consolidated financial
statements of Holly Corporation included in this Annual Report (Form 10-K) for
the year ended July 31, 2001.





                                             ERNST & YOUNG LLP


Dallas, Texas
October 25, 2001