That explosion at the Texas City refinery took out approx. 3% of the entire domestic gasoline inventory (and just in time for the start of driving season, too!).

Better fill up your cars tonight; you know what will happen tomorrow...

 

http://abclocal.go.com/ktrk/news/032...al_txcity.html

 

I thought about that. I imagine the price will reflect the domestic supply. Oh well, we'll just have to cough up few more cents per gallon I imagine. Thanks for the heads up!

 

Oh, wow!!! Prices were already as bad as they've ever been as of this morning... Just oging to get worse!

 

[QUOTE]Fatalities confirmed at Texas City Refinery

By BP Press Office
Wednesday, March 23, 2005


TEXAS CITY, TEXAS (March 23, 2005

 

But, on the bright side, it seems that the initial reports about the affected gasolne stocks were worse than what it really is. So while I predict a wild swing on the NYMEX tomrrow regardless, I don't think the situation is as dire as it could have been.

 

Still, it sounds awful. Sounds like it was smack dab in the middle of the work day.

 

[QUOTE]Gasoline Hits A Record After Texas Fire

By Lisa Sanders
CBS MarketWatch
March 23, 2005

Dallas -- Gasoline futures jumped to an all-time high in after-hours trading Wednesday after a deadly blast at the nation's third-largest refinery, which produces 435,000 barrels a day.

April gasoline traded at a record $1.608 a gallon, taking out the high of $1.603 a gallon set on Tuesday.

 

Glad I filled up yesterday after checking this thread.

 

This is NOTHING new!

An explosion happened at an oil refinery in Houston about 12 years ago. I commented to a co-worker that lived in Houston for a few years and his reply was that a refinery blows up every year down there (in Texas). He said "If you don't believe it, just track it." So I have been only mentally noting how many refiners have blown up since then and I bet it has been 12 or more. I do know that after he said it, there was 2 more in the next year.

I would personally just take this as business as usual.

The plant explosion that occurred in the mid-late 90s at a computer chip plant in Asia and effected memory prices for an entire year was way way more detrimental to it supply than any refinery explosion ever.