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Inventories
3 Months Ended
Mar. 31, 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 March 31, 2013 and December 31, 2012, the carrying values of inventories under the LIFO method were $623.7 million and $571.2 million, respectively, less than such inventories would have been valued using the first-in, first-out (FIFO) method.