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Oil Prices Jump Above $100 After Oil Refinery Fire

By: Amanda Salem
Updated: February 19, 2008
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Oil prices jump above $100 a barrel after an oil refinery explosion in Big Spring.


AAA says gas prices jumped almost two cents at the pump on Tuesday.  Oil prices per barrel closed above $100 for the first time Tuesday as well.  Experts say it’s, in part, due to the explosion at the Alon Refinery in Big Spring Monday morning.


The fire broke out after an explosion near a unit that processes propylene and propane.  Firefighters contained the blaze within hours and had it extinguished by the end of the day. 


The refinery produces almost 70,000 barrels of oil a day; which turns out to be about 1.3 million gallons of gas.


Alon USA, the company that owns the oil refinery, says three of the four employees injured in Monday's explosion have been released from the hospital.  One employee is in stable condition in Lubbock, recovering from leg burns.


The refinery says they hope to resume partial operations in a matter of months.

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