US gasoline futures rise on BP explosion

A large explosion at a BP refinery plany in Texas City, Houston on Wednesday could push the prie of gasoline (petrol) up even higher than its recent peaks, with gasoline futures prices rising late yesterday.

The explosion happened early Wednesday afternoon US time, killing 14 people and leaing over 100 injured.

The cause of the explosion is unkown.

The huge refinery, processes about 433,000 barrels of oil per day, or around 3% of total US supply.

US consumers have already seen prices at the pump exceed USD 2 per barrel in recent weeks.