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Gasoline prices increase at local stations

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By Staff and wire report

Monday, February 18, 2008

Gasoline prices at local service stations spiked again Monday, Feb. 18, continuing a trend of big jumps and gradual declines that started late last year.

The price for regular grade gasoline climbed roughly 16 cents a gallon to $3.14 a gallon late Monday morning, with several other stations following suit in the early afternoon, according to www.daytongasprices.com, a Web site that monitors gas prices in Dayton and other cities.

Extras

Other stations, however, continued to sell gas for $2.86 a gallon or less, according to the Web site Monday's spike was the third in the past 30 days in the Dayton area, according to the Web site.

The average price for regular on Monday afternoon was just under $3 a gallon, up nearly 5 cents from Sunday. A year ago, the average price was $2.22 a gallon.

The spike coincided with a slight rise in oil prices worldwide on Monday. Light, sweet crude for March delivery rose 40 cents to $95.90 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe.

The spike also coincided with an explosion Monday at a refinery in Texas. The violent blast shook buildings miles away and injured at least four people.

All workers were accounted for about an hour after the explosion, said Blake Lewis, spokesman for refinery owner Alon USA.

Lewis initially said one worker was injured, but Big Spring Mayor Russ McEwen later said four were hurt. McEwen said one of the workers was sent to a burn unit.

The fire sparked by the blast was under control Monday morning, Lewis said. The Dallas-based company does not know what caused the explosion, he said.

The blast sent black smoke billowing into the sky, closed schools, shut down a major interstate and left residents rattled.

Gasoline prices tend to rise whenever a major refinery goes out of service because of repairs or accidents.

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