The streamline-upwind/Petrov–Galerkin (SUPG) formulation is one of the most widely used stabilized methods in finite element computation of compressible flows. It includes a stabilization parameter that is known as “τ”. Typically the SUPG formulation is used in combination with a shock-capturing term that provides additional stability near the shock fronts. The definition of the shock-capturing term includes a shock-capturing parameter. In this paper, we describe, for the finite element formulation of compressible flows based on conservation variables, new ways for determining the τ and the shock-capturing parameter. The new definitions for the shock-capturing parameter are much simpler than the one based on the entropy variables, involve less operations in calculating the shock-capturing term, and yield better shock quality in the test computations.