1 EXHIBIT 12 Statement re Computation of Ratio of Earnings to Fixed Charges Quaker State Corporation and Subsidiaries For the Six Months Ended June 30, 1997 (in thousands) Interest expense $13,075 Interest factor of rental expense (1) 4,567 ------- Total fixed charges $17,642 ======= Income from continuing operations before income taxes $26,509 Fixed charges 17,642 ------- Total earnings $44,151 ======= Ratio of earnings to fixed charges 2.5 ======= (1) Interest factor of rental expense computed based on: (a) average interest factor from a sample of leases for operations representing in excess of 50% of rentals from continuing operations, and (b) one-third factor of rentals for other operations.