<PAGE>

                                                       EXHIBIT 11


<TABLE>
<CAPTION>

           CROWN CENTRAL PETROLEUM CORPORATION AND SUBSIDIARIES
                     COMPUTATION OF EARNINGS PER SHARE
              (thousands of dollars except per share amounts)



                                 Three Months Ended         Nine Months
                                    September 30       Ended
                                                          September 30
                                   1997                   1997    
                                            1996                  1996
<S>                              <C>        <C>        <C>        <C>
Primary    and   Fully   Diluted                                  
Earnings Per Share
                                                                  
Net income (loss) applicable  to $11,265     $(3,636        $          $
common shares                               )          19,896     (13,634
                                                                  )
                                                                  
                                                                  
Shares  outstanding as  reported                                  
at the beginning
 of the period                   9,995,1     9,988,               
                                 80         989        9,983,180  9,952,950
                                                                  
Restricted  shares held  by  the                                  
Company at the
 beginning or the period         (260,700    (264,750             
                                 )          )          (249,700   (255,300
                                                       )          )
                                                                  
Weighted average effect of 9,306                                  
shares of common
 stock issued in September 1997    3,102                          
                                                       1,034
                                                                  
Weighted average effect of 9,306                                  
shares of common
 stock issued in August 1997       6,204                          
                                                       2,068
                                                                  
Weighted average effect of 1,840                                  
shares of common
 stock issued in July 1997         1,840                          
                                                       614
                                                                  
Weighted average effect of 1,000                                  
shares of common
 stock issued in June 1997                                        
                                                       444
                                                                  
Weighted average effect of 8,139                                  
shares of common
 stock issued in July 1996                    8,139               
                                                                  2,713
                                                                  
Weighted average effect of 1,000                                  
shares of common
 stock issued in June 1996                                        
                                                                  444
                                                                  
Weighted average effect of 4,730                                  
share of common
 stock issued in May 1996                                         
                                                                  2,628
                                                                  
Weighted   average   effect   of                                  
13,559 share of common
 stock issued in April 1996                                       
                                                                  9,039
                                                                  
Weighted average effect of 7,300                                  
shares of common
 stock issued in March 1996                                       
                                                                  5,678
                                                                  
Weighted   average   number   of                                  
common shares
 outstanding, at period end      9,745,6     9,732,               
                                 26         378        9,737,640  9,718,152
                                                                  
Net  income  (loss)  per  common $  1.16     $ (.37)        $          $
share                                                  2.04       (1.40
                                                                  )
                                                                  
</TABLE>