
<PAGE>
 
                                                                 
                                                              EXHIBIT 23.2     
                       
                    CONSENT OF INDEPENDENT ACCOUNTANTS     
   
  We hereby consent to the incorporation by reference in the Prospectus
constituting part of this Registration Statement on Form S-4 (Amendment No. 1)
of Ashland Inc. of our report dated March 12, 1998 relating to the financial
statements of Marathon Oil Company Downstream Businesses (a division of
Marathon Oil Company), which appears in the Current Report on Form 8-K/A of
Ashland Inc. dated March 17, 1998.     
                                             
                                          /s/ Price Waterhouse LLP     
                                             
                                          Price Waterhouse LLP     
   
Pittsburgh, PA     
   
May 1, 1998     
