[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Wednesday, 31 March, 2004, 06:24 GMT 07:24 UK
US petrol prices hit record highs
Petrol pumps
Americans have been used to very low petrol prices
US petrol prices have reached all-time highs following an explosion and fire at a refinery in Texas.

The blaze at the BP plant in Texas saw the price of unleaded gasoline hit a record $1.7768 a gallon on the New York Mercantile Exchange.

US petrol prices were already high because of a lack of stocks and concern that Opec - meeting on Wednesday - will stick to plans to cut production.

The fire is not believed to have been caused by "any outside influence".

US unleaded gasoline's previous record high was $1.7750 in May 2001.

A BP spokesman said of the explosion at the plant in Texas City, south of Houston: "We have no indication of any outside influence on the incident."

Like all oil companies in the US, BP has been maintaining high security at its Texan refineries after the FBI warned on March 25 of an unsubstantiated threat of an attack.

BP said the exact cause of the explosion at the 447,000 barrel-per-day refinery was as yet unknown, but that no one had been injured.

Flames from the explosion could be seen up to two miles away from the facility, which is the third largest refinery in the US.

Opec pushes for higher oil prices
30 Mar 04  |  Business
Opec mulls wisdom of output cut
28 Mar 04  |  Business
Oil boom sparks fuel price surge
22 Mar 04  |  Business
US petrol prices at all-time high
23 Mar 04  |  Business

The BBC is not responsible for the content of external internet sites


News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific