EXHIBIT 99
GIANT INDUSTRIES, INC.
NEWS RELEASE

Contact: Mark B. Cox
         Executive Vice President, Treasurer, & Chief Financial Officer
         Giant Industries, Inc.
         (480) 585-8888

FOR IMMEDIATE RELEASE

June 23, 2005


        GIANT INDUSTRIES, INC. ANNOUNCES POTENTIAL PIPELINE ACQUISITION

Scottsdale, Arizona, June 23, 2005 - Giant Industries, Inc. [NYSE: GI] today
announced that it has entered into a purchase and sale agreement to acquire
an idle crude oil pipeline system that originates near Jal, New Mexico and
is connected to a company-owned pipeline network that directly supplies
crude oil to the Bloomfield and Ciniza refineries.

Fred Holliger, Giant's Chief Executive Officer, said, "We are very excited
about this opportunity, as it addresses the strategic priority we have had
over the last several years to access supplemental crude supplies for our
two New Mexico refineries. When operational, the pipeline will have
sufficient crude oil transportation capacity to allow us to again operate
both refineries at maximum rates."

This acquisition is subject to normal due diligence, and other conditions
of closing. It is anticipated that the transaction will close in the third
quarter of 2005. Startup of the pipeline is subject to, among other things,
a final engineering evaluation of the system. It is currently anticipated
that the pipeline will become operational in twelve to eighteen months from
the closing.

Giant Industries, Inc., headquartered in Scottsdale, Arizona, is a refiner
and marketer of petroleum products. Giant owns and operates one Virginia
and two New Mexico crude oil refineries, a crude oil gathering pipeline
system based in Bloomfield, New Mexico, which services the New Mexico
refineries, finished products distribution terminals in Albuquerque, New
Mexico and Flagstaff, Arizona, a fleet of crude oil and finished product
truck transports and a chain of retail service station/convenience stores
in New Mexico, Colorado, and Arizona. Giant is also the parent company of
Phoenix Fuel Co., Inc., an Arizona wholesale petroleum products
distributor. For more information, please visit Giant's website at
www.giant.com.

This press release contains forward-looking statements that involve known
and unknown risks and uncertainties. Forward-looking statements are
identified by words or phrases such as "believes," "expects,"
"anticipates," "estimates," "should," "could," "plans," "intends," "will,"
variations of such words and phrases, and other similar expressions. While
these forward-looking statements are made in good faith, and reflect the
Company's current judgment regarding such matters, actual results could
vary materially from the forward-looking statements. Important factors that
could cause actual results to differ from forward-looking statements
include, but are not limited to: the risk that the transaction will not be
consummated, the risk that it will not be possible to place the pipeline
system in operation and/or to operate the two refineries at maximum rates
due to financial, operational or other constraints, the risk that the
timetable for placing the pipeline system into operation will be different
than anticipated, the risk that it will not be possible to obtain
supplemental crude oil for processing at the two refineries at cost
effective prices, and other risks detailed from time to time in the
Company's filings with the Securities and Exchange Commission. All
subsequent written and oral forward-looking statements attributable to the
Company, or persons acting on behalf of the Company, are expressly
qualified in their entirety by the foregoing. Forward-looking statements
made by the Company represent its judgment on the dates such statements are
made. The Company assumes no obligation to update any forward-looking
statements to reflect new or changed events or circumstance.