Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MCCAUSLAND PETER
  2. Issuer Name and Ticker or Trading Symbol
AIRGAS INC [ARG]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chariman, President and CEO
(Last)
(First)
(Middle)
C/O AIRGAS, INC., 259 N. RADNOR-CHESTER RD, STE. 100
3. Date of Earliest Transaction (Month/Day/Year)
03/10/2008
(Street)

RADNOR, PA 19087
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/15/2007   G V 350,000 (1) D (2) 6,901,910 (3) D  
Common Stock 08/07/2007   G V 7,549 D (2) 6,894,361 (3) D  
Common Stock 12/11/2007   G V 18,729 D (2) 6,875,632 (3) D  
Common Stock 01/31/2008   G V 7,114 D (2) 6,868,518 (3) D  
Common Stock 03/10/2008   M   130,000 A $ 15.94 6,998,518 (3) D  
Common Stock               250,000 (4) I By Trusts
Common Stock               41,500 (5) I By immediate family
Common Stock               43,707 (6) I By 401(k) plan

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 15.94 03/10/2008   M   130,000     (7) 05/14/2008 Common Stock 130,000 (2) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MCCAUSLAND PETER
C/O AIRGAS, INC.
259 N. RADNOR-CHESTER RD, STE. 100
RADNOR, PA 19087
  X   X   Chariman, President and CEO  

Signatures

 Robert H. Young, Jr., Attorney-in-Fact for Peter McCausland   03/12/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 250,000 shares transferred on 6/15/2007 to two separate grantor retained annuity trusts of which Peter McCausland is a co-trustee and either he or his spouse is a beneficiary.
(2) Not applicable.
(3) Includes 15,700 shares owned directly by Peter McCausland and indirectly by his spouse.
(4) Represents 250,000 shares held in two separate grantor retained annuity trusts of which Peter McCausland is a co-trustee and either he or his spouse is a beneficiary.
(5) Represents 41,500 shares owned directly by his spouse and indirectly by Peter McCausland.
(6) The information presented is as of 03/07/2008, the date of the latest available statement of the reporting person's holdings of Airgas, Inc. common stock in his 401(k) plan. Since May 3, 2007, the date of the statement relied upon for the amount reported on the reporting person's Form 4 dated May 7, 2007, a total of 510 shares of common stock have been acquired in the reporting person's 401(k) plan through transactions exempt under Section 16(b).
(7) These options became exercisable in 25% equal increments on each of 5/14/1999, 5/14/2000, 5/14/2001 and 5/14/2002.

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