Filed under Rule 424(b)(2)
                                           Registration No. 33-51095 and
                                           Registration No. 33-42141


 Pricing Supplement No. 18 Dated February 3, 1995
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 To  Prospectus Dated December 2, 1993 
     Prospectus Supplement Dated December 2, 1993

                                     $301,627,000

                                      ASHLAND INC.

                              MEDIUM-TERM NOTES, SERIES F

                     Due from 9 Months or More from Date of Issue

                       Principal Amount:           $10,000,000

               (Total Principal Amount Issued to Date:     $184,000,000)


       Original Issue Date:                          February 10, 1995 
                                                    ------------------- 
       
       Maturity Date:                                February 10, 2015
                                                    ------------------- 

       Interest Rate:                                      8.625%
                                                    -------------------

 Redemption:

 Check box opposite applicable paragraph.

  [ x ]      The Notes cannot be redeemed prior to maturity.

  [   ]      The Notes may be redeemed prior to maturity. 


 Initial Redemption Date:


       The optional Redemption Price on and after the Initial Redemption
 Date shall initially be      % of the principal  amount of the Notes to
 be  redeemed and  shall  decline  at each  anniversary of  the  Initial
 Redemption Date by       % of the principal amount to be redeemed until
 the Optional Redemption Price is 100% of such principal amount.

 Commission to be paid to agent                          $ 75,000.00
 Morgan Stanley & Co., Inc.                              ------------