1
 
                                                                    EXHIBIT 23.2
 
                        CONSENT OF INDEPENDENT AUDITORS
 
     We consent to the reference to our firm under the caption "Experts" in the
Registration Statement (Form S-4) and related Joint Proxy Statement/Prospectus
of Giant Industries, Inc. for the registration of 11,050,000 shares of its
common stock and to the incorporation by reference therein of our report dated
September 23, 1997, with respect to the consolidated financial statements of
Holly Corporation included in its Annual Report (Form 10-K) for the year ended
July 31, 1997, filed with the Securities and Exchange Commission.
 
                                                               ERNST & YOUNG LLP
                                                          /s/  ERNST & YOUNG LLP
 
May 1, 1998
Dallas, Texas