There probably would be an effect on gasoline prices if it were the refinery. The BP Texas City refinery is one of the largest and most complex refineries on the planet.
However, the reports indicate that the explosion is in the chemical plant.
http://www.galvnews.com/photos/2004.March/3-30bpfire-1.jpg Alert downgraded in BP after furnace fire
From staff reports
The Daily News
Published March 30, 2004
TEXAS CITY — Public safety officials have lowered the threat from a furnace explosion and fire at BP petrochemical plant to Level 3, meaning that no danger was said to be posed to the outside community.
Officials canceled an earlier shelter-in-place order issued for Texas City and La Marque after the explosion, which occured at BP’s petrochemical plant on FM 519.
While there is no official word on what caused the explosion or what substances might be involved in the fire, the substance was described as a "high-end hydrocarbon." Residents are still advised to keep clear of the smoke plume, which may contain hydrocarbons.
BP officials told The Daily News a formal statement would be coming soon. Several roads around the city were still closed.
There were no reports of deaths or injuries so far, but some people living near the plant were ordered to evacuate their homes. Children attending school events Tuesday night were being kept indoors.
Winds in the area are from the south at 9 mph, according to the National Weather Service.
BP plant, is a major refiner of gasoline, I think. 500,000 gals/day. I think I will stock up this weekend.
