Exhibit 99.1

FOR IMMEDIATE RELEASE

Investor and Analyst Contact: Jeffrey S. Beyersdorfer (915) 534-1400		Media Contact: Gary Hanson (915) 534-1400

WESTERN REFINING ANNOUNCES FOURTH QUARTER AND FULL YEAR 2010 RESULTS
2010 Initiatives Position Company To Capitalize On Strong 2011 Inland Refining Margins

EL PASO, Texas — March 3, 2011 — Western Refining, Inc. (NYSE: WNR) today reported for the fourth quarter of 2010 a net loss, excluding special items, of $3.5 million, or $0.04 per diluted share. This compares to a fourth quarter 2009 net loss, excluding special items, of $51.1 million, or $0.58 per diluted share. On a GAAP basis, the Company reported a fourth quarter 2010 net loss of $7.6 million, or $0.09 per diluted share, compared to the fourth quarter 2009 net loss of $97.5 million, or $1.11 per diluted share. The quarter-over-quarter improvement was due in large part to higher refining margins and continued benefits generated from the Company’s cost savings initiatives. A reconciliation of reported earnings excluding special items, for all periods shown, is included in the accompanying financial tables.

For the year ended December 31, 2010, the Company reported a net loss, excluding special items, of $10.1 million, or $0.11 per diluted share. This compares to full-year 2009 net loss, excluding special items, of $44.5 million, or $0.56 per diluted share. The Company reported on a GAAP basis a net loss of $17.0 million, or $0.19 per diluted share, for the full-year 2010, compared to a net loss of $350.6 million, or $4.43 per diluted share, for the full-year 2009.

The Company reported a fourth quarter Adjusted EBITDA, as defined and calculated in the accompanying financial tables, of $63.5 million compared to ($24.7) million for the same quarter in 2009. Adjusted EBITDA for the full-year 2010 was $288.1 million compared to $191.4 million for 2009.

Jeff Stevens, Western’s President and Chief Executive Officer, said, “Throughout 2010, we took a number of steps to improve our financial and operating performance. We believe the actions we took, coupled with the strength of refining margins in our markets, position Western well for 2011.”

During 2010, the Company pursued several initiatives to enhance and streamline operations, strengthen its balance sheet, and improve liquidity, including:

•		Completing the consolidation of its two Four Corners refineries into its Gallup, New Mexico refinery.
•		Achieving its goal of $50 million in annual cost savings through a number of successful initiatives which management believes are sustainable going forward.
•		Temporarily suspending refining operations at its Yorktown refinery while continuing to successfully operate the products terminal and storage facility and supplying the region with finished products.
•		Amending and extending its revolving credit facility to eliminate financial maintenance covenants under the revolver, lower the interest rate, increase borrowing capacity, and extend the maturity.
•		Reducing total debt by $47.1 million.

Commenting on current market conditions, Stevens said, “We are currently seeing an extraordinary refining margin environment during a time of year when we traditionally experience seasonally weaker margins. As an inland refiner, the widening Brent/West Texas Intermediate (WTI) spreads, strengthening crude oil contango, and expanding sweet/sour differentials are all contributing to historically high

margins. We are encouraged by the very strong refining margins as we start 2011 and are optimistic that Western is well positioned as we move into the higher demand driving season.”

Conference Call Information

A conference call is scheduled for March 3, 2011, at 10:00 a.m. ET to discuss Western’s financial results. The call can be accessed at Western’s website, www.wnr.com. The call can also be heard by dialing (866) 566-8590, passcode: 25992210. The audio replay will be available through March 10, 2011, and can be accessed by dialing (800) 642-1687, passcode: 25992210.

A copy of this press release can be accessed on the Investor Relations section on Western’s website, www.wnr.com.

Non-GAAP Financial Measures

In a number of places in the press release and related tables, we have excluded the impact of the non-cash goodwill and other impairment losses from our results of operations for the fourth quarters of 2010 and 2009 and years ended December 31, 2010 and 2009. We have also excluded fourth quarter and full year 2010 charges related to the temporary suspension of our refining operations at the Yorktown facility. Additionally, we have excluded certain fourth quarter and full year 2009 litigation charges. We have excluded these amounts to better analyze changes in our business from period-to-period as these are non-recurring charges.

About Western Refining

Western Refining, Inc. is an independent refining and marketing company headquartered in El Paso, Texas. Western operates refineries in El Paso, and Gallup, New Mexico. Western’s asset portfolio also includes refined products terminals in Albuquerque and Bloomfield, New Mexico and Yorktown, Virginia; asphalt terminals in Phoenix and Tucson, Arizona, Albuquerque, and El Paso; retail service stations and convenience stores in Arizona, Colorado, and New Mexico; a fleet of crude oil and finished product truck transports; and wholesale petroleum products operations in Arizona, California, Colorado, Nevada, New Mexico, Texas, and Utah. More information about the Company is available at www.wnr.com.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements. The forward-looking statements contained herein include statements about the strengthening refining market, the Company’s position therein, the sustainability of certain cost savings, our expectations regarding margins and spreads, and our outlook for 2011. These statements are subject to the general risks inherent in our business. These expectations may or may not be realized. Some of these expectations may be based upon assumptions or judgments that prove to be incorrect. In addition, Western’s business and operations involve numerous risks and uncertainties, many of which are beyond Western’s control, which could result in Western’s expectations not being realized or otherwise materially affect Western’s financial condition, results of operations, and cash flows. Additional information relating to the uncertainties affecting Western’s business is contained in its filings with the Securities and Exchange Commission. The forward-looking statements are only as of the date made, and Western does not undertake any obligation to (and expressly disclaims any obligation to) update any forward-looking statements to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events.

Consolidated Financial Data

The following tables set forth our summary historical financial and operating data for the periods indicated below:

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
		(In thousands, except per share data)
Statement of Operations Data:
Net sales (1)		$	1,866,025			$	1,959,352			$	7,965,053			$	6,807,368
Operating costs and expenses:
Cost of products sold (exclusive of depreciation and amortization) (1)			1,676,154				1,828,518				7,155,967				5,944,128
Direct operating expenses (exclusive of depreciation and amortization) (1)			106,601				111,969				444,531				486,164
Selling, general, and administrative expenses			22,571				23,794				84,175				109,697
Goodwill and other impairment losses			9,075				52,788				13,038				352,340
Maintenance turnaround expense			—				3,735				23,286				8,088
Depreciation and amortization			34,327				36,599				138,621				145,981
Total operating costs and expenses			1,848,728				2,057,403				7,859,618				7,046,398
Other income (expense):
Operating income (loss)			17,297				(98,051	)			105,435				(239,030	)
Interest income			124				51				441				248
Interest expense			(35,381	)			(33,274	)			(146,549	)			(121,321	)
Amortization of loan fees			(2,452	)			(2,038	)			(9,739	)			(6,870	)
Write-off of unamortized loan fees			—				—				—				(9,047	)
Other income (expense), net			2,655				(19,778	)			7,286				(15,184	)
Income (loss) before income taxes			(17,757	)			(153,090	)			(43,126	)			(391,204	)
Provision for income taxes			10,185				55,640				26,077				40,583
Net loss		$	(7,572	)		$	(97,450	)		$	(17,049	)		$	(350,621	)
Basic loss per share		$	(0.09	)		$	(1.11	)		$	(0.19	)		$	(4.43	)
Diluted loss per share		$	(0.09	)		$	(1.11	)		$	(0.19	)		$	(4.43	)
Dividends declared per common share		$	—			$	—			$	—			$	—
Weighted average basic shares outstanding			88,305				87,983				88,204				79,163
Weighted average dilutive shares outstanding			88,305				87,983				88,204				79,163
Cash Flow Data:
Net cash provided by (used in):
Operating activities		$	40,975			$	(7,712	)		$	134,456			$	140,841
Investing activities			(17,678	)			(21,994	)			(73,777	)			(115,361	)
Financing activities			(40,907	)			39,557				(75,657	)			(30,407	)
Other Data:
Adjusted EBITDA (2)		$	63,478			$	(24,656	)		$	288,107			$	191,438
Capital expenditures			21,354				22,092				78,095				115,854
Balance Sheet Data (at end of period):
Cash and cash equivalents										$	59,912			$	74,890
Working capital											272,750				311,254
Total assets											2,628,146				2,824,654
Total debt											1,069,531				1,116,664
Stockholders’ equity											675,593				688,452

	•		Adjusted EBITDA does not reflect our cash expenditures or future requirements for significant turnaround activities, capital expenditures, or contractual commitments;
	•		Adjusted EBITDA does not reflect the interest expense or the cash requirements necessary to service interest or principal payments on our debt;
	•		Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; and
	•		Our calculation of Adjusted EBITDA may differ from the Adjusted EBITDA calculations of other companies in our industry, limiting its usefulness as a comparative measure.
	•		Because of these limitations, Adjusted EBITDA should not be considered a measure of discretionary cash available to us to invest in the growth of our business. We compensate for these limitations by relying primarily on our GAAP results and using Adjusted EBITDA only supplementally. The following table reconciles net income (loss) to Adjusted EBITDA for the periods presented:

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
		(In thousands)
Net loss		$	(7,572	)		$	(97,450	)		$	(17,049	)		$	(350,621	)
Interest expense			35,381				33,274				146,549				121,321
Provision for income taxes			(10,185	)			(55,640	)			(26,077	)			(40,583	)
Amortization of loan fees			2,452				2,038				9,739				6,870
Write-off of unamortized loan fees			—				—				—				9,047
Depreciation and amortization			34,327				36,599				138,621				145,981
Maintenance turnaround expense			—				3,735				23,286				8,088
Goodwill and other impairment losses			9,075				52,788				13,038				352,340
Net change in LCM reserve			—				—				—				(61,005	)
Adjusted EBITDA		$	63,478			$	(24,656	)		$	288,107			$	191,438

Refining Segment

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
		(In thousands, except per barrel data)
Statement of Operations Data:
Net sales (including intersegment sales)		$	1,974,235			$	1,962,366			$	8,070,119			$	6,608,075
Operating costs and expenses:
Cost of products sold (exclusive of depreciation and amortization) (1)			1,827,958				1,872,567				7,439,826				5,919,499
Direct operating expenses (exclusive of depreciation and amortization)			78,820				87,013				335,869				375,690
Selling, general, and administrative expenses			5,947				7,774				20,155				36,021
Goodwill and other impairment losses			9,075				52,788				12,832				283,500
Maintenance turnaround expense			—				3,735				23,286				8,088
Depreciation and amortization			29,450				31,375				118,661				125,537
Total operating costs and expenses			1,951,250				2,055,252				7,950,629				6,748,335
Operating income (loss)		$	22,985			$	(92,886	)		$	119,490			$	(140,260	)
Key Operating Statistics:
Total sales volume (bpd) (2) (7)			224,005				262,498				248,785				258,259
Total refinery production (bpd) (7)			155,334				197,210				192,997				213,833
Total refinery throughput (bpd) (3) (7)			157,044				199,739				194,492				215,815
Per barrel of throughput:
Refinery gross margin (1) (4)		$	10.12			$	4.89			$	8.88			$	8.74
Gross profit (4)			8.09				3.18				7.21				7.15
Direct operating expenses (5)			5.46				4.74				4.73				4.77

The following table reconciles gross profit to refinery gross margin for the periods presented:

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
		(In thousands, except per barrel data)
Net sales (including intersegment sales)		$	1,974,235			$	1,962,366			$	8,070,119			$	6,608,075
Cost of products sold (exclusive of depreciation and amortization)			1,827,958				1,872,567				7,439,826				5,919,499
Depreciation and amortization			29,450				31,375				118,661				125,537
Gross profit			116,827				58,424				511,632				563,039
Plus depreciation and amortization			29,450				31,375				118,661				125,537
Refinery gross margin		$	146,277			$	89,799			$	630,293			$	688,576
Refinery gross margin per refinery throughput barrel		$	10.12			$	4.89			$	8.88			$	8.74
Gross profit per refinery throughput barrel		$	8.09			$	3.18			$	7.21			$	7.15

The following tables set forth our summary refining throughput and production data for the periods presented below:

All Refineries

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
Refinery product yields (bpd)
Gasoline			85,639				109,190				102,927				113,364
Diesel and jet fuel			60,405				73,090				73,774				80,157
Residuum			5,077				5,007				4,899				5,504
Other			4,213				7,547				7,174				9,349
Liquid products			155,334				194,834				188,774				208,374
By-products			—				2,376				4,223				5,459
Total			155,334				197,210				192,997				213,833
Refinery throughput (bpd)
Sweet crude oil			122,664				121,531				131,028				126,328
Sour or heavy crude oil			20,090				52,475				44,129				65,260
Other feedstocks/blendstocks			14,290				25,733				19,335				24,227
Total			157,044				199,739				194,492				215,815

Southwest Refining

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
Key Operating Statistics:
Refinery product yields (bpd)
Gasoline			85,639				79,976				81,953				82,540
Diesel and jet fuel			60,405				56,256				58,122				57,976
Residuum			5,077				5,007				4,899				5,504
Other			4,213				4,170				4,033				4,391
Total refinery production (bpd)			155,334				145,409				149,007				150,411
Refinery throughput (bpd)
Sweet crude oil			122,664				114,081				125,259				124,443
Sour crude oil			20,090				22,396				14,007				17,601
Other feedstocks/blendstocks			14,290				10,773				12,022				11,038
Total refinery throughput (bpd)			157,044				147,250				151,288				153,082
Total sales volume (bpd) (2)			191,512				193,976				189,613				184,108
Per barrel of throughput:
Refinery gross margin (4)		$	9.41			$	6.29			$	10.42			$	9.88
Direct operating expenses (5)			4.54				4.99				4.39				4.69

El Paso Refinery

		Three Months Ended								Year Ended
		December 31,								December 31,
		2010				2009				2010				2009
Key Operating Statistics:
Refinery product yields (bpd)
Gasoline			69,131				63,450				65,740				65,160
Diesel and jet fuel			53,072				49,548				51,571				50,524
Residuum			5,077				5,007				4,899				5,504
Other			3,400				3,222				3,245				3,341
Total refinery production (bpd)			130,680				121,227				125,455				124,529
Refinery throughput (bpd)
Sweet crude oil			100,708				91,691				104,119				99,680
Sour crude oil			20,090				22,396				14,007				17,601
Other feedstocks/blendstocks			11,108				8,450				9,051				9,184
Total refinery throughput (bpd)			131,906				122,537				127,177				126,465
Total sales volume (bpd) (2)			155,834				159,570				153,398				147,854
Per barrel of throughput:
Refinery gross margin (4)		$	8.83			$	5.82			$	9.37			$	9.20
Direct operating expenses (5)			3.57				3.85				3.50				3.60

Four Corners Refineries

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010 (6)				2009 (6)
Key Operating Statistics:
Refinery product yields (bpd)
Gasoline			16,508				16,526				16,213				17,380
Diesel and jet fuel			7,333				6,708				6,551				7,452
Other			813				948				788				1,050
Total refinery production (bpd)			24,654				24,182				23,552				25,882
Refinery throughput (bpd)
Sweet crude oil			21,956				22,390				21,140				24,763
Other feedstocks/blendstocks			3,182				2,323				2,971				1,854
Total refinery throughput (bpd)			25,138				24,713				24,111				26,617
Total sales volume (bpd)(2)			35,678				34,406				36,215				36,254
Per barrel of throughput:
Refinery gross margin(4)		$	14.13			$	12.09			$	16.82			$	15.17
Direct operating expenses(5)			6.91				9.55				6.68				8.79

Yorktown Refinery

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
Key Operating Statistics:
Refinery product yields (bpd)
Gasoline			—				29,214				28,043				30,824
Diesel and jet fuel			—				16,834				20,926				22,181
Other			—				3,377				4,199				4,958
Liquid products			—				49,425				53,168				57,963
By-products			—				2,376				5,647				5,459
Total refinery production (bpd)			—				51,801				58,815				63,422
Refinery throughput (bpd)
Sweet crude oil			—				7,450				7,713				1,885
Heavy crude oil			—				30,079				40,274				47,659
Other feedstocks/blendstocks			—				14,960				9,777				13,189
Total refinery throughput (bpd)			—				52,489				57,764				62,733
Total sales volume (bpd) (2) (7)			—				68,521				59,172				74,151
Per barrel of throughput:
Refinery gross margin (1) (4)		$	—			$	0.94			$	3.49			$	5.97
Direct operating expenses (5)			—				4.03				5.93				4.95

Wholesale Segment

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
		(In thousands, except per gallon data)
Statement of Operations Data:
Net sales (including intersegment sales)		$	688,397			$	477,931			$	2,470,586			$	1,664,397
Operating costs and expenses:
Cost of products sold (exclusive of depreciation and amortization)			666,228				457,191				2,383,931				1,579,910
Direct operating expenses (exclusive of depreciation and amortization)			13,115				11,622				48,222				51,775
Selling, general and administrative expenses			3,939				3,932				12,638				16,566
Goodwill impairment losses			—				—				—				41,230
Depreciation and amortization			1,155				1,411				5,069				5,616
Total operating costs and expenses			684,437				474,156				2,449,860				1,695,097
Operating income (loss)		$	3,960			$	3,775			$	20,726			$	(30,700	)
Operating Data:
Fuel gallons sold (in thousands)			274,276				211,693				1,009,786				823,207
Fuel margin per gallon (1)		$	0.06			$	0.07			$	0.07			$	0.07
Lubricant sales		$	24,723			$	24,392			$	102,200			$	111,193
Lubricant margins (2)			10.7	%			11.9	%			11.5	%			9.6	%

The following table reconciles fuel sales and cost of fuel sales to net sales and cost of products sold:

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
		(In thousands, except per gallon data)
Net sales:
Fuel sales		$	724,946			$	505,314			$	2,588,628			$	1,749,431
Excise taxes included in fuel sales			(69,172	)			(59,192	)			(250,550	)			(224,771	)
Lubricant sales			24,723				24,392				102,200				111,193
Other sales			7,900				7,417				30,308				28,544
Net sales		$	688,397			$	477,931			$	2,470,586			$	1,664,397
Cost of products sold:
Fuel cost of products sold		$	709,432			$	491,321			$	2,527,758			$	1,692,177
Excise taxes included in fuel sales			(69,172	)			(59,192	)			(250,550	)			(224,771	)
Lubricant cost of products sold			22,090				21,496				90,411				100,567
Other cost of products sold			3,878				3,566				16,312				11,937
Cost of products sold		$	666,228			$	457,191			$	2,383,931			$	1,579,910
Fuel margin per gallon (1)		$	0.06			$	0.07			$	0.07			$	0.07

Retail Segment

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
		(In thousands, except per gallon data)
Statement of Operations Data:
Net sales (including intersegment sales)		$	180,439			$	163,493			$	718,369			$	629,938
Operating costs and expenses:
Cost of products sold (exclusive of depreciation and amortization)			156,860				141,151				619,674				533,481
Direct operating expenses (exclusive of depreciation and amortization)			16,820				15,381				66,997				64,979
Selling, general and administrative expenses			1,670				1,454				5,095				6,216
Goodwill impairment losses			—				—				—				27,610
Depreciation and amortization			2,614				2,522				10,245				9,820
Total operating costs and expenses			177,964				160,508				702,011				642,106
Operating income (loss)		$	2,475			$	2,985			$	16,358			$	( 12,168	)
Operating Data:
Fuel gallons sold (in thousands)			51,472				50,316				207,303				205,532
Fuel margin per gallon (1)		$	0.17			$	0.17			$	0.19			$	0.18
Merchandise sales			46,884				44,757			$	191,324			$	189,096
Merchandise margin (2)			28.4	%			28.4	%			28.5	%			28.4	%
Operating retail outlets at period end											150				149

     The following table reconciles fuel sales and cost of fuel sales to net sales and cost of products sold:

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
		(In thousands, except per gallon data)
Net sales:
Fuel sales		$	147,564			$	131,491			$	582,688			$	489,033
Excise taxes included in fuel revenues			(19,942	)			(18,349	)			(79,639	)			(71,998	)
Merchandise sales			46,884				44,757				191,324				189,096
Other sales			5,933				5,594				23,996				23,807
Net sales		$	180,439			$	163,493			$	718,369			$	629,938
Cost of products sold:
Fuel cost of products sold			138,583				123,101				543,916				451,485
Excise taxes included in fuel cost of products sold			(19,942	)			(18,349	)			(79,639	)			(71,998	)
Merchandise cost of products sold			33,569				32,059				136,855				135,459
Other cost of products sold			4,650				4,340				18,542				18,535
Cost of products sold		$	156,860			$	141,151			$	619,674			$	533,481
Fuel margin per gallon (1)		$	0.17			$	0.17			$	0.19			$	0.18

Reconciliations of Special Items

We present below certain additional financial measures that are non-GAAP measures within the meaning of Regulation G under the Securities Exchange Act of 1934.

We present these non-GAAP measures to provide investors with additional information to analyze our performance from period to period. We believe that it is useful for investors to understand our financial performance excluding these special items so that investors can see the operating trends underlying our business. Investors should not consider these non-GAAP measures in isolation from, or as a substitute for, the financial information that we report in accordance with GAAP. These non-GAAP measures reflect subjective determinations by management, and may differ from similarly titled non-GAAP measures presented by other companies.

		Three Months Ended December 31,								Year Ended December 31,
		2010				2009				2010				2009
		(In thousands, except per share data)
Reported earnings (losses) per share		$	(0.09	)		$	(1.11	)		$	(0.19	)		$	(4.43	)
Earnings (loss) before income taxes		$	(17,757	)		$	(153,090	)		$	(43,126	)		$	(391,204	)
Goodwill and other impairment losses (1) (2)			9,075				52,788				13,038				352,340
Litigation charges (3)			—				20,000				—				20,000
Non-cash LCM inventory adjustment (4)			—				—				—				(61,005	)
Yorktown suspension costs (5)			524				—				4,502				—
Earnings (loss) before income taxes excluding special items			(8,158	)			(80,302	)			(25,586	)			(79,869	)
Recomputed income taxes after special items			4,679				29,189				15,471				35,365
Net income (loss) excluding special items		$	(3,479	)		$	(51,113	)		$	(10,115	)		$	(44,504	)
Diluted earnings (loss) per share excluding special items		$	(0.04	)		$	(0.58	)		$	(0.11	)		$	(0.56	)