INVENTORIES

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

INVENTORIES

5. INVENTORIES

Our inventory amounts were as follows at the dates indicated (in thousands):

	September 30, 2019		December 31, 2018
Liquid petroleum products (1)	$	98,889	$	186,683
Materials and supplies	25,037		24,201
Total inventories	$	123,926	$	210,884

(1) Ending inventory was 53.9 million and 114.7 million gallons of liquid petroleum products at September 30, 2019 and December 31, 2018, respectively.

At September 30, 2019 and December 31, 2018, approximately 94% of our liquid petroleum products inventory volumes were designated in a fair value hedge relationship.  Because we generally designate inventory as a hedged item upon purchase, hedged inventory is valued at current market prices with the change in value of the inventory reflected in our unaudited condensed consolidated statements of operations.