1
 
                                                                    EXHIBIT 23.2
 
                        CONSENT OF INDEPENDENT AUDITORS
 
   
     We consent to the reference to our firm under the caption "Experts" in
Amendment No. 1 to 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
 
   
Dallas, Texas
    
   
May 15, 1998