Exhibit 99.1

Sunoco, Inc.

1735 Market Street

Philadelphia, Pa. 19103-7583

No. 22-08

SUNOCO REPORTS SECOND QUARTER 2008 RESULTS

PHILADELPHIA, August 6, 2008 — Sunoco, Inc. (NYSE: SUN) today reported net income of $82 million ($.70 per share diluted) for the second quarter of 2008 versus $509 million ($4.20 per share diluted) for the second quarter of 2007. Excluding special items, Sunoco had income for the 2008 second quarter of $61 million ($0.52 per share diluted). There were no special items in the second quarter of 2007.

For the first half of 2008, Sunoco reported net income of $23 million ($.20 per share diluted) versus $684 million ($5.63 per share diluted) in the first half of 2007. Excluding special items, 2008 first half income was $2 million ($.02 per share diluted) versus 2007 first half income of $594 million ($4.89 per share diluted).

“Despite a challenging market environment for refining and an unprecedented increase in crude oil prices that also squeezed retail gasoline and chemicals margins, results were improved from the first quarter due to higher refining margins that accompanied strong contributions from our Logistics and Coke segments,” said John G. Drosdick, Sunoco Chairman and Chief Executive Officer.

“The Refining and Supply business unit earned $32 million. While gasoline margins remained weak and refinery utilization was limited by maintenance activity and economically driven rate reductions, we were able to optimize our production for the difficult market conditions. In our Northeast system, the yield of high-valued distillate fuel climbed to 38 percent of net production versus 34 percent in the second quarter of 2007, while the yield of low-valued residual fuel fell to under 8 percent versus 9 percent a year ago. In the MidContinent system, distillate yields were also maximized, reaching 40 percent of net production versus 31 percent in the second quarter of 2007, reflecting another record quarter of jet fuel production at the Toledo refinery.

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“Sunoco’s non-refining businesses earned $47 million in the second quarter. The steady rise throughout the quarter in wholesale gasoline and propylene feedstock costs limited earnings in Retail Marketing and Chemicals, respectively. However, Logistics earnings of $21 million reflected a record quarterly result from Sunoco Logistics Partners L.P. and the Coke segment continued to demonstrate a higher earnings level than in prior years with earnings of $23 million.”

Commenting on the Company’s outlook for the third quarter, Drosdick said, “Despite the recent decline in crude oil prices, refining margins, specifically for gasoline, continue to be weak. Efforts to optimize our refining system in the third quarter will focus on expanding our slate of light, sweet crude oils to include those that trade at lower prices while running our crude units at rates that reflect the current challenging market conditions. The contribution from the non-refining businesses, particularly Retail Marketing, should show improvement from second quarter levels. In our Coke business, initial production has commenced at our second cokemaking facility at Haverhill, Ohio with full coke production expected by the end of the third quarter. With the completion of this project and the impact of higher coal prices in the second half, we now expect the Coke business to earn approximately $110-$115 million in 2008.

“Finally, I want to reiterate how pleased we are to welcome Lynn Laverty Elsenhans to Sunoco as our new Chief Executive Officer and President on Friday, August 8, 2008. We continue to believe that our portfolio of assets offers unique opportunities for shareholders within our sector. With Lynn’s extensive experience and industry background, she is prepared to build on the Company’s sound strategic position and meet the challenges and opportunities that lie ahead.”

DETAILS OF SECOND QUARTER RESULTS

REFINING AND SUPPLY

Refining and Supply earned $32 million in the second quarter of 2008 versus $482 million in the second quarter of 2007. The decrease in earnings was due to significantly lower realized margins along with higher expenses and lower production volumes. The lower margins reflect the negative impact of higher average crude oil costs and lower product demand than a year ago, especially for gasoline, while the higher expenses were largely the result of increased prices for purchased fuel and utilities. Production volumes decreased in the second quarter of 2008 compared to the year-ago period due to planned and unplanned maintenance work and economically driven rate reductions, which were partially offset by the impact of the major turnaround and expansion work at the Philadelphia refinery during the second quarter of 2007.

RETAIL MARKETING

Retail Marketing had breakeven results in the second quarter of 2008 versus income of $30 million in the second quarter of 2007. The decrease in earnings was primarily due to lower average retail gasoline margins and lower divestment gains attributable to the Retail Portfolio Management program.

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CHEMICALS

Chemicals earned $3 million in the second quarter of 2008 versus $6 million in the prior-year period. The decrease in earnings was due primarily to lower margins and sales volumes, partially offset by lower expenses. The lower margins were primarily due to higher feedstock costs, while the lower expenses were largely due to the transfer of cumene and propylene splitter assets to Refining and Supply, effective January 1, 2008.

LOGISTICS

Earnings for the Logistics segment were $21 million in the second quarter of 2008 versus $10 million in the second quarter of 2007. The increase was due to record results from Sunoco Logistics Partners L.P. (NYSE: SXL) which benefited from asset growth and strong performance in its western pipeline system as well as higher earnings from the eastern pipeline system and terminalling operations.

COKE

The Coke business earned $23 million in the second quarter of 2008 versus $13 million in the second quarter of 2007. The increase in earnings was due primarily to increased price realizations from coal and coke production at Jewell, partially offset by lower tax benefits from cokemaking operations and higher selling, general and administrative expenses.

CORPORATE AND OTHER

Corporate administrative expenses were $11 million after tax in the second quarter of 2008 versus $18 million after tax in the second quarter of 2007. The decrease was primarily due to lower accruals for performance-related incentive compensation.

Net financing expenses were $7 million after tax in the second quarter of 2008 versus $14 million after tax in the second quarter of 2007. The decrease was primarily due to lower interest expense, higher capitalized interest and the absence of expense attributable to the preferential return of third-party investors in Sunoco’s Indiana Harbor cokemaking operations.

SPECIAL ITEMS

During the second quarter of 2008, Sunoco recognized an $11 million after-tax gain on an insurance recovery related to an MTBE litigation settlement and a $10 million after-tax gain related to the settlement of issues pertaining to certain state corporate income tax returns filed for prior years.

SIX MONTH RESULTS

Sunoco earned $23 million, or $.20 per share of common stock on a diluted basis, for the first six months of 2008 versus $684 million, or $5.63 per share, in the comparable 2007 period. The decrease was primarily due to lower margins in Sunoco’s Refining and Supply business. Also contributing to the

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decline were the absence of a $90 million after-tax gain related to the prior issuance of SXL limited partnership units, higher expenses, lower average retail gasoline and distillate sales volumes, lower gains on asset divestments and an unfavorable income tax consolidation adjustment in 2008. Partially offsetting these negative factors were lower net financing expenses, higher income attributable to Sunoco’s Coke, Chemicals and Logistics businesses and the gains recognized in 2008 related to the insurance recovery and income tax matters discussed above.

Sunoco, Inc., headquartered in Philadelphia, PA, is a leading manufacturer and marketer of petroleum and petrochemical products. With 910 thousand barrels per day of refining capacity, approximately 4,700 retail sites selling gasoline and convenience items, approximately 5,500 miles of crude oil and refined product owned and operated pipelines and 38 product terminals, Sunoco is one of the largest independent refiner-marketers in the United States. Sunoco is a significant manufacturer of petrochemicals with annual sales of approximately five billion pounds, largely chemical intermediates used to make fibers, plastics, film and resins. Utilizing a unique, patented technology, Sunoco’s cokemaking facilities in the United States have the capacity to manufacture over 2.5 million tons annually of high-quality metallurgical-grade coke for use in the steel industry. Sunoco also is the operator of, and has an equity interest in, a 1.7 million tons-per-year cokemaking facility in Vitória, Brazil.

Anyone interested in obtaining further insights into the second quarter’s results can monitor the Company’s quarterly teleconference call, which is scheduled for 3:00 p.m. ET on August 7, 2008. It can be accessed through Sunoco’s website—www.SunocoInc.com. It is suggested that you visit the site prior to the teleconference to ensure that you have downloaded any necessary software.

Those statements made in this release that are not historical facts are forward-looking statements intended to be covered by the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Sunoco believes that the assumptions underlying these statements are reasonable, investors are cautioned that such forward-looking statements are inherently uncertain and necessarily involve risks that may affect Sunoco’s business prospects and performance, causing actual results to differ materially from those discussed in this release. Such risks and uncertainties include, by way of example and not of limitation: general economic, financial and business conditions which could affect Sunoco’s financial condition and results of operations; changes in competition and competitive practices, including the impact of foreign imports; effects of weather conditions and natural disasters on the Company’s operating facilities and on product supply and demand; changes in refining, marketing and chemical margins; changes in coal and coke prices; variation in crude oil and petroleum-based commodity prices and availability of crude oil and feedstock supply or transportation; effects of transportation disruptions; changes in the price differentials between light-sweet and heavy-sour crude oils; changes in the marketplace which may affect supply and demand for Sunoco’s products; changes in the level of capital expenditures or

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operating expenses; changes in product specifications; availability and pricing of ethanol; changes in the expected level of environmental capital, operating or remediation expenditures; age of, and changes in the reliability, efficiency and capacity of, the Company’s operating facilities or those of third parties; effects of adverse events relating to the operation of the Company’s facilities and to the transportation and storage of hazardous materials (including equipment malfunction, explosions, fires, spills, and the effects of severe weather conditions); risks related to labor relations and workplace safety; changes in, or new, statutes and government regulations or their interpretations, including those relating to the environment and global warming; changes in accounting rules and/or tax laws or their interpretations, including the method of accounting for inventories and pensions; ability to identify acquisitions, execute them under favorable terms and integrate them into the Company’s existing businesses; ability to enter into joint ventures and other similar arrangements under favorable terms; delays and/or costs related to construction, improvements and/or repairs of facilities (including shortages of skilled labor, the issuance of applicable permits and inflation); nonperformance or force majeure by, or disputes with, major customers, suppliers, dealers, distributors or other business partners; changes in credit terms required by suppliers; changes in financial markets impacting pension expense and funding requirements; political and economic conditions in the markets in which the Company, its suppliers or customers operate, including the impact of potential terrorist acts and international hostilities; military conflicts between, or internal instability in, one or more oil producing countries, governmental actions and other disruptions in the ability to obtain crude oil; and changes in the status of, or initiation of new, litigation, arbitration or other proceedings to which the Company is a party or liability resulting from such litigation, arbitration or other proceedings, including natural resource damage claims. These and other applicable risks and uncertainties have been described more fully in Sunoco’s First Quarter 2008 Form 10-Q filed with the Securities and Exchange Commission on May 1, 2008 and in other periodic reports filed with the Securities and Exchange Commission. Sunoco undertakes no obligation to update any forward-looking statements in this release, whether as a result of new information or future events.

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Sunoco, Inc.

2008 Second Quarter and Six-Month Financial Summary

(Unaudited)

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Sunoco, Inc.

Earnings Profile of Sunoco Businesses (after tax)

(Millions of Dollars, Except Per-Share Amounts)

(Unaudited)

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Sunoco, Inc.

Earnings Profile of Sunoco Businesses (after tax)

(Millions of Dollars, Except Per-Share Amounts)

(Unaudited)

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Sunoco, Inc.

Financial and Operating Statistics (Unaudited)

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Sunoco, Inc.

Financial and Operating Statistics (Unaudited)

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Sunoco, Inc.

Financial and Operating Statistics (Unaudited)

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Sunoco, Inc.

Financial and Operating Statistics (Unaudited)

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Sunoco, Inc.

Financial and Operating Statistics (Unaudited)

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Sunoco, Inc.

Earnings Profile of Sunoco Businesses (after tax)

(Millions of Dollars, Except Per-Share Amounts)

(Unaudited)

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Sunoco, Inc.

Earnings Profile of Sunoco Businesses (after tax)

(Millions of Dollars, Except Per-Share Amounts)

(Unaudited)

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Sunoco, Inc.

Consolidated Statements of Operations

(Millions of Dollars)

(Unaudited)

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