SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarter Ended March 31, 1998
Commission File Number 1-10091

HUNTWAY PARTNERS, L.P.
(Exact Name of Registrant as Specified in its Charter)


Delaware                                  36-3601653
(State or Other Jurisdiction of           (I.R.S. Employer
 Incorporation or Organization)            Identification No.)


25129 The Old Road, Suite 322  
Newhall, California 91381 
(Address of Principal Executive Offices)
(Zip Code)                     
                                   					      

Registrant's Telephone Number Including Area Code:  
(805) 286-1582

Indicate by check mark whether the registrant (1) has filed all 
reports required to be filed by Section 13 or 15(b) of the 
Securities Exchange Act of 1934 during the preceding 12 months 
(or for such shorter period that the registrant was required to 
file such reports), and (2) has been subject to such filing 
requirements for the past 90 days.     Yes   X        No      .



QUARTERLY REPORT ON FORM 10-Q

HUNTWAY PARTNERS, L.P.

For the Quarter Ended March 31, 1998

INDEX


Part I.  Financial Information							                          Page 

Condensed Consolidated Balance Sheets as
	of March 31, 1998 and December 31, 1997                        	3

Condensed Consolidated Statements of
 Operations for the Three Months
	Ended March 31, 1998 and 1997                                  	4 

Condensed Consolidated Statement of 
 Partners' Capital for the Three Months
 Ended March 31, 1998                                           	4 

Condensed Consolidated Statements of Cash
 Flows for the Three Months Ended
 March 31, 1998 and 1997                                        	5 

Notes to Condensed Consolidated
 Financial Statements                                           	6

Management's Discussion and Analysis
 of Results of Operations and
	Financial Condition                                            	8


Part II.  Other Information	                                    14


<TABLE>
HUNTWAY PARTNERS, L.P. 			
CONDENSED CONSOLIDATED BALANCE SHEETS 			
				
<CAPTION>				
			                               March 31,		            December 31,	
			                                 1998	                    1997	
		                               (Unaudited)		             (Audited)	
<S>                                  <C>                    <C>
CURRENT ASSETS:			
				
  Cash 			                        $4,928,000 			           $9,406,000 	
  Accounts Receivable 		           3,088,000 			            4,066,000 	
  Inventories                      6,990,000 			            4,112,000 	
  Prepaid Expenses               			 617,000 			              587,000 	
     Total Current Assets     			 15,623,000 			           18,171,000 	
				
			
PROPERTY - Net			                 59,680,000 		            59,346,000 	
				
OTHER ASSETS 		                    1,162,000 		             1,025,000 	
				
GOODWILL 			                       1,687,000 			            1,701,000 	
				
TOTAL ASSETS 			                 $78,152,000 			          $80,243,000 	
				
			
CURRENT LIABILITIES: 			
				
  Accounts  Payable 			           $5,056,000 			           $6,730,000 	
  Current Portion of 
   Long-Term Obligations			        1,157,000 			            1,449,000 	
   Accrued Interest              			 930,000 			              571,000 	
   Other Accrued Liabilities     			 852,000 			            1,046,000 	
   Total Current Liabilities   			 7,995,000 			            9,796,000 	
				
			
LONG-TERM OBLIGATIONS			          36,916,000 			           36,668,000 	
 				
			
PARTNERS' CAPITAL:			
				
   General Partners              			 332,000 			              338,000 	
   Limited Partners           			 32,909,000 			           33,441,000 	
   Total Partners' Capital			     33,241,000 			           33,779,000 	

TOTAL LIABILITIES AND			
	PARTNERS' CAPITAL 		            $78,152,000 			          $80,243,000 	
				
</TABLE>
			


<TABLE>
HUNTWAY PARTNERS, L.P.										
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS					
					
<CAPTION>										
			                                    Three Months		   Three Months		 
			                                       Ended		          Ended			
			                                      March 31,		      March 31, 	
			                                        1998		           1997		
			                                     (Unaudited)		    (Unaudited)	
	
<S>                                         <C>              <C>										
SALES			                               $12,553,000 		    $19,065,000 		

COSTS AND EXPENSES: 										
 Material and Processing Costs      			 10,804,000 		     16,137,000 	
 Selling and Administration Expenses   			 976,000 		      1,189,000
 Interest Expense                      			 832,000 		        873,000 	
	Depreciation and Amortization			          607,000 		        520,000 	
			
										
Total Costs and Expenses			             13,219,000 		     18,719,000 	
										
NET INCOME (LOSS)			                     $(666,000)		       $346,000 	
	
NET INCOME (LOSS) PER BASIC UNIT        			 $(0.05)		          $0.01 	

NET INCOME (LOSS) PER DILUTED UNIT      			 $(0.05)		          $0.01 	
	
										
BASIC LIMITED PARTNER										
EQUIVALENT UNITS OUTSTANDING			         14,731,000 		     25,599,000 	
										
DILUTED LIMITED PARTNER										
EQUIVALENT UNITS OUTSTANDING			         14,731,000 		     28,073,000	
										
</TABLE>

<TABLE>
HUNTWAY PARTNERS, L.P. 										
CONDENSED CONSOLIDATED STATEMENT OF PARTNERS' CAPITAL 			
						                          	
<CAPTION>											
											                  General			        Limited			
					                        Partners			       Partners		     Totals
<S>                           <C>               <C>            <C>											
Balance at January 1, 1998			$338,000 	     $33,441,000 			 $33,779,000 
Earned Portion of 
 Option Awards					             1,000 	         127,000 			     128,000 
Net Income for the Three 
 Months Ended March 31, 1998			(7,000)     			 (659,000)			    (666,000)
											
Balance at March 31, 1998				$332,000 	     $32,909,000 			 $33,241,000 
											
</TABLE>


<TABLE>
HUNTWAY PARTNERS, L.P. 				
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS				
				
<CAPTION>								
		                                            Three		             Three
		                                        Months Ended		      Months Ended
		                                          March 31,		         March 31,
		                                            1998		              1997
 		                                        (Unaudited)		        (Unaudited)

<S>                                             <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES:				
  Net Income/(Loss)                       		 $(666,000)		          $346,000 
  Adjustments to Reconcile Net Income
  (Loss)to Net Cash Provided by 
  Operating Activities:		 	
	 
  Interest Expense Paid by the Issuance 
  of Notes		                                   248,000 		                 - 
  Depreciation and Amortization             		 607,000 		           520,000 
  Changes in Operating Assets and Liabilities: 			
	   Decrease in Accounts Receivable		          978,000 	            243,000 
    Increase in Inventories              		 (2,804,000)		        (4,999,000)
    Increase in Prepaid Expenses            		 (30,000)		          (181,000)
    Increase (decrease) in Accounts Payable	(1,674,000)        		 1,889,000 
    Increase in Accrued Liabilities         		 165,000 	            626,000 
 		 		 
NET CASH USED BY OPERATING ACTIVITIES		     (3,176,000)		        (1,556,000)
				
CASH FLOWS FROM INVESTING ACTIVITIES:				
    Additions to Property		                   (844,000)         		 (549,000)
    Additions to Other Assets		               (166,000)		            10,000 
 				 
NET CASH USED BY INVESTING ACTIVITIES		     (1,010,000)		          (539,000)
 		 		 
CASH FLOWS FROM FINANCING ACTIVITIES:		 		 
    Repayment of Long-term Obligations		      (292,000)		          (100,000)
 		 		 
NET CASH USED  BY FINANCING ACTIVITIES 		     (292,000)		          (100,000)
 		 		 
NET (DECREASE) IN CASH		                    (4,478,000)		        (2,195,000)
 		 		 
CASH BALANCE - BEGINNING OF PERIOD		         9,406,000 		         5,287,000 
 				
CASH BALANCE - END OF PERIOD		              $4,928,000 		        $3,092,000 
				
INTEREST PAID  IN CASH DURING THE PERIOD		    $473,000 	           $554,000 
					
</TABLE>


HUNTWAY PARTNERS, L.P. AND SUBSIDIARY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.  CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

	The accompanying condensed consolidated financial statements 
of Huntway Partners, L.P. and subsidiary as of March 31, 1998 and 
for the three month periods ended March 31, 1998 and 1997 are 
unaudited, but in the opinion of management, reflect all 
adjustments (consisting only of normal recurring adjustments) 
necessary for fair presentation of such financial statements in 
accordance with generally accepted accounting principles.  The 
results of operations for an interim period are not necessarily 
indicative of results for a full year.  The condensed 
consolidated financial statements should be read in conjunction 
with the consolidated financial statements and notes thereto 
contained in the Partnerships annual report for the year ended 
December 31, 1997.

Crude oil and finished product inventories are stated at 
cost determined by the last-in, first-out method, which is not in 
excess of market.  For the first three months of 1998 and 1997, 
the effect of LIFO was to decrease the net loss by $1,028,000 and 
increase net income by $1,154,000, respectively.

Inventories at March 31, 1998 and December 31, 1997 were as 
follows:

<TABLE>
<CAPTION>

		                                 1998		              1997
<S>                                <C>                 <C>
Finished Products		             $3,963,000 		       $2,480,000 
Crude Oil and Supplies		         3,027,000 		        2,660,000 
		                               6,990,000 		        5,140,000 
Less LIFO Reserve		                      - 		       (1,028,000)
				
Total		                         $6,990,000 		       $4,112,000 

</TABLE>

2.  CONTINGENCIES

The Partnership's business is the refining of crude oil into 
liquid asphalt and other light-end products which is subject to 
various environmental laws and regulations. Adherence to these 
environmental laws and regulations creates the opportunity for 
unknown costs and loss contingencies to arise in the future.  
Unknown costs and loss contingencies could also occur due to the 
nature of the Partnerships business.  The Partnership is not 
aware of any costs or loss contingencies relating to 
environmental laws and regulations that have not been recorded in 
its financial statements.  However, future environmental costs 
cannot be reasonably estimated due to unknown factors.  Although 
environmental costs may have a significant impact on results of 
operations for any single period, the partnership believes that 
such costs will not have a material adverse effect on the 
consolidated financial position, results of operations or cash 
flows of the Partnership.

The Partnership is party to a number of lawsuits and other 
proceedings arising out of the ordinary course of its business.  
While the results of such lawsuits and proceedings cannot be 
predicted with certainty, management does not expect that the 
ultimate liability, if any, will have a material adverse effect 
on the consolidated financial position, results of operations or 
cash flows of the Partnership.



MANAGEMENT'S DISCUSSION AND ANALYSIS OF 
RESULTS OF OPERATIONS AND FINANCIAL CONDITION

	The following discussion should be read in conjunction 
with the financial statements included elsewhere in this 
report.  All per unit amounts are diluted.

Results of Operations

	Huntway is principally engaged in the processing and sale 
of liquid paving and roofing asphalt products, as well as the 
production of other refined petroleum feedstocks and products 
such as gas oil, naphtha, kerosene distillate and heavy reside 
(bunker) fuel. 

	Huntway's ability to generate income depends principally 
upon the margins between the prices for its refined petroleum 
products and the cost of crude oil, as well as upon demand for 
liquid asphalt, which affects both price and sales volume.

	Historically, refined petroleum product prices (including 
prices for liquid paving and roofing asphalt products, 
although to a lesser degree than Huntways other refined 
petroleum products) generally fluctuate with crude oil price 
levels.  Accordingly, there has not been a relationship 
between total revenues and income due to the volatile 
commodity character of crude oil prices.

	Accordingly, management believes that income before 
interest, depreciation and amortization provides the most 
meaningful basis for comparing historical results of 
operations discussed below.  Earnings before interest, 
depreciation and amortization is not a measuring criteria 
under generally accepted accounting principles and should not 
be viewed as superior to or an isolation from net income.

	A number of uncertainties exist that may affect Huntways 
future operations including the possibility of increases in 
crude costs that may not be able to be passed on to customers 
in the form of higher prices.  Additionally, crude costs could 
rise to such an extent that Huntway may not have sufficient 
letter of credit availability to purchase all the crude it 
needs to sustain operations to capacity, especially during the 
summer season.  If this occurred, Huntway would be forced to 
reduce crude purchases, which could adversely impact results 
of operations.  The Partnerships primary product is liquid 
asphalt.  Most of Huntways competitors produce products using 
liquid asphalt (including residual bunker fuel) as a by-
product and are of much greater size and have much larger 
financial resources than the Partnership.  Accordingly, the 
Partnership has in the past, and may have in the future, 
difficulty raising prices in the face of increasing crude 
costs.

Three Months Ended March 31, 1998 Compared with the Three 
Months Ended March 31, 1997

	First quarter 1998 net loss was $666,000, or $.05 per 
unit, versus 1997 first quarter net income of $346,000, or 
$.01 cents per unit.

	While margins on paving and roofing asphalt products were 
substantially higher in the current quarter, significantly 
lower margins on other products resulted in a negative swing 
in results between quarters of $1,012,000.  Huntway also sold 
low priced residual fuel oil during the quarter in order to 
optimize refinery production levels and support paving and 
roofing product pricing.  This product was not sold in 1997 
due to higher roofing and paving product asphalt demand.

	The following table sets forth the effects of changes in 
price and volume on sales and material and processing costs on 
the quarter ended March 31, 1998 as compared to the quarter 
ended March 31, 1997:

<TABLE>
<CAPTION>
											                           Material &				           Barrels
			                       Sales			    Processing		    Net		    Sold
											
<S>                        <C>          <C>           <C>       <C>
Quarter ended 
  March 31, 1997			    $19,065,000 		$16,137,000   $2,928,000 		 809,000 
											
Effect of changes 
  in price			           (5,192,000)	  (4,216,000)			 (976,000)		
Effect of changes 
  in volume			          (1,320,000)	  (1,117,000)			 (203,000)		 (56,000)
											
Quarter ended 
  March 31, 1998			    $12,553,000 		$10,804,000 		$1,749,000 		 753,000 
											
</TABLE>
	
As reflected in the table, sales fell by 34% or 
$6,512,000 in the first quarter of 1998 versus the first 
quarter of 1997.  Prices were lower across the board, due to 
lower crude prices.  Most of the decline was the result of 
significantly lower prices for the Partnership's light 
intermediate refinery feed stocks as compared to 1997 as a 
result of lower demand for and higher inventory levels of 
gasoline and diesel fuel on the West Coast.  The first quarter 
of 1997 was marked by a number of refinery turnarounds and 
other outages, which reduced the production of clean fuels on 
the West Coast.  In addition, first quarter of 1998 was also 
marked by a wet winter in California and mild winter weather 
in the balance of the country, which also worked to reduce 
demand for these products as compared to the first quarter of 
1997.  This factor also contributed to a reduction in unit 
volume of 7%. 

	Material and processing costs were reduced by 33% or 
$5,333,000 for the quarter as compared to the comparable 
quarter of 1997 primarily as a result of much lower crude 
prices due to a perceived world wide oversupply due to over 
production by a number of oil producing countries.

	Overall net margins fell by 40% or $1,179,000 between 
quarters as declines in selling prices generally exceeded 
crude price declines on light intermediate refinery feed stock 
products as discussed above.  Additionally, low margin 
residual fuel oil was sold in the current quarter, 
contributing to the decline in margins.  These declines were 
partially offset by increased margins on paving and roofing 
products of $820,000 for the current quarter or 53%.

	The decline in unit volume of 7% also contributed to the 
$1,179,000 decrease in net margins due to a decline in paving 
and roofing products sales volume of 85,000 barrels or 24% due 
to the unusually inclement weather experienced during the 
first quarter of 1998 as compared to the comparatively mild 
winter of 1997.

	Selling, general and administrative costs decreased by 
$213,000 as compared to the first quarter of 1997 primarily as 
a result of lower incentive plan accruals.

	Interest expense was reduced in the quarter by $41,000 
due to lower interest rates offsetting higher debt levels. On 
October 31, 1997 the Partnership issued $21,750,000 in 9.5% 
Senior Subordinated Secured Convertible Debt due 2007, retired 
$11,707,000 in 12% senior debt, and redeemed 10,758,696 units 
or 42% of its total units outstanding.  The transaction also 
reduced the effective interest rate on the Partnerships 
$8,600,000 Industrial Development Bond from 12% to 
approximately 6% and provided the Partnership with $2,500,000 
in additional working capital.  As a result of this 
transaction, the Partnerships debt increased from $27,924,000 
to $37,967,000 effective October 31, 1997.  Net interest 
expense however remained essentially unchanged due to the 
lower net interest rate on the new convertible debt and the 
buydown of the approximate 6% interest spread on the 
Industrial Development Bond.

	Because of the foregoing, as well as other factors 
affecting the Partnerships operating results, past financial 
performance should not be considered to be a reliable 
indicator of future performance and investors should not use 
historical trends to anticipate results or trends in future 
periods.


Capital Resources And Liquidity
	The primary factors that affect the Partnerships cash 
requirements and liquidity position are fluctuations in the 
selling prices for its refined products caused by local market 
supply and demand factors including public and private demand 
for road construction and improvement.  Secondly, demand for 
diesel fuel and gasoline, as well as fluctuations in the cost 
of crude oil, which is impacted by a myriad of market factors, 
both foreign and domestic, influence the Partnerships cash 
requirements and liquidity position.  In addition, capital 
expenditure requirements, including costs to maintain 
compliance with environmental regulations as well as debt 
service requirements, impact the Partnerships cash needs.

	In the first three months of 1998, operating activities 
used $3,176,000 in cash.  The periods net loss of $666,000 
offset by depreciation and amortization of $607,000 and the 
payment of interest by the issuance of notes of $248,000 
provided $189,000 in cash.  A seasonal increase in inventory 
of $2,804,000 was partially financed by a seasonal decrease in 
accounts receivable of $978,000. Accounts payable decreased by 
$1,674,000 due to a seasonal decrease in crude purchases and 
falling crude prices.  Accrued liabilities increased by 
$165,000 as only one half of the interest accrued under the 
senior debt agreements was scheduled for payment in the 
quarter. Prepaid expenses consumed a nominal $30,000.

 In comparison, during the first quarter of 1997, 
operating activities used $1,556,000 in cash.  The periods 
net income of $346,000 plus depreciation and amortization of 
$520,000 provided $866,000 in cash.  A seasonal increase in 
inventory of $4,999,000 was partially financed by an increase 
in accounts payable of $1,889,000 due to rising crude oil 
prices. Accrued liabilities increased by $626,000 as only one 
half of the interest accrued under the Senior note agreements 
was scheduled for payment in the quarter, as well as increases 
in accruals for property taxes and incentive compensation. 
Prepaid expenses consumed $181,000 primarily due to turnaround 
costs while accounts receivable decreased by a nominal 
$243,000 due to the timing of certain product sales.

	Investing activities consumed $1,010,000 in cash during 
the first quarter of 1998 relating to the construction of a 
new wastewater treatment facility in the Wilmington refinery. 
During the first quarter of 1997, investing activities 
consumed $539,000 primarily for refinery equipment.

	Financing activities consumed $292,000 in the first 
quarter of 1998 for principal payments on the Senior notes 
while in January of 1997 $100,000 was used pursuant to a 1993 
settlement with the State of Arizona.

The Partnership believes its current level of letter of 
credit facilities are sufficient to guarantee requirements for 
crude oil purchases, collateralization of other obligations 
and for hedging activities at current crude price levels.  
However, due to the volatility in the price of crude oil there 
can be no assurance that these facilities will be adequate in 
the future.  If crude oil prices increased beyond the level of 
the Partnership's letter of credit facilities, it would be 
required to prepay for crude oil or reduce its crude oil 
purchases, either of which would adversely impact 
profitability.

At March 31, 1998, the cash position of the Partnership 
was $4,928,000.  In the opinion of management, cash on hand, 
together with anticipated future cash flows, will be 
sufficient to meet Huntway's liquidity obligations for the 
next 12 months. 

The Partnership has distributed proxy materials to its 
unitholders for a special meeting to be held on May 29, 1998.  
The proxy materials describe a proposal that, if approved by 
them, will result in the conversion of the Partnership to 
corporate form. It is presently anticipated that this 
conversion will occur on June 1, 1998.  It is also anticipated 
that this conversion will not materially impact Huntways cash 
flow in 1998 except for related transaction costs estimated at 
$300,000 as management believes that significant amounts of 
taxable income will not be earned in 1998 or 1999 due to the 
effects of depreciation on existing assets.  This assumes 
earnings before interest, depreciation and amortization does 
not materially increase from levels earned in 1996 and 1997.



PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

	The Partnership is party to a number of lawsuits and 
other proceedings arising out of the ordinary course of its 
business.  While the results of such lawsuits and proceedings 
cannot be predicted with certainty, management does not expect 
that the ultimate liability, if any, will have a material 
adverse effect on the consolidated financial position, results 
of operations or of the cash flows of the Partnership other 
than as previously reported. 

Item 2.  Changes in Securities

	Not applicable.

Item 3.  Defaults Upon Senior Securities

	None.

Item 4.  Submission of Matters to a Vote of Security Holders

	None.

Item 5.  Other Information

     		None.

Item 6. Exhibits and Reports on Form 8-K

		(a) Exhibits

			None

		(b) Reports on Form 8-K

A report on Form 8-K was filed on March 31, 1998 to file the 
following documents:

			First Supplemental Indenture dated as of October 31, 
1997 between the Partnership and Fleet National Bank, relating 
to the Partnership's 12% Senior Secured Notes Due 2005.

			Second Supplemental Indenture dated as of October 31, 
1997 between the Partnership and Fleet National Bank, relating 
to the Partnership's 12% Senior Secured Notes Due 2005.

			First Supplemental Indenture dated as of October 31, 
1997 between the Partnership and IBJ Schroder Bank & Trust 
Company, relating to the Partnership's Junior Subordinated 
Notes Due 2005.

			First Supplemental Indenture dated as of January 14, 
1998 between the Partnership and State Street Bank & Trust 
Company, as trustee, relating to the Partnership's 12% Senior 
Subordinated Secured Convertible Notes Due 2007.

			Third Amendment to Letter of Credit and Reimbursement 
Agreement dated as of November 30, 1997 between the 
Partnership, Sunbelt Refining Company, L.P. and Bankers Trust 
Company.



SIGNATURES


	Pursuant to the requirements of the Securities Exchange 
Act of 1934, the registrant has duly caused this report to be 
signed on its behalf by the undersigned, thereunto duly 
authorized, on May 14, 1998.


HUNTWAY PARTNERS, L.P.
      										                
(Registrant)	




            			By: 							                               
	 										   Warren J. Nelson
											    Executive Vice President 
											    and Chief Financial Officer
								      (Principal Accounting Officer)