Massive Explosion at Philadelphia Refinery Pushes Gas Prices Up
The U.S. East Coast’s largest gasoline refinery in Philadelphia has been struck by a series of massive explosions, CNBC reports Friday, June 21.
Explosions of butane were registered around 4 a.m. local time on Friday. About 120 firefighters arrived at the scene to prevent the fire from spreading. At press time, there have been no casualties and only five minor injuries were reported.
The refining complex will be running at a reduced capacity until the fire is completely eliminated. The cause and origin of the explosion will be investigated later, according to the fire commissioner’s statement.
According to videos uploaded by witnesses, the bright orange fire was seen from miles away. Local residents interviewed by CNBC said that they saw debris falling from the sky.
The explosions at the East Coast’s largest refinery have had an impact on gasoline prices, with benchmark RBOB futures rising by 4% on the day.