Corrosion induced by the presence of naphthenic acids in hydrocarbon fluids, particularly where such fluids are at elevated temperatures, may be inhibited or controlled through use of corrosion inhibiting compositions comprising a combination of a minor portion of a phosphorus-based constituent and a major portion of a sulfur-based constituent, nitrogen-based constituent, or combination thereof. In another embodiment the sulfur-based constituent and/or nitrogen-based constituent may be used without any phosphorus-based constituent. Where the compounds are appropriately selected, the compositions may inhibit corrosion to a degree comparable or nearly comparable to the inhibition provided by an equal amount of some conventional phosphorus-based compounds alone, but are significantly less likely to impair catalyst activity in downstream cracking and refinery operations.