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Default Conditional formula using MIN function doesn't work

I am trying to find the MIN price for rows that have a volume attached. So
in the example below I want the result to equal $8.25. The formula I'm using
is =MIN(IF($b$2:$b$40,$a$2:$a$4,0)). I've also tried
=MIN(IF($b$2:$b$4<"",$a$2:$a$4,0)). As soon as there is a blank cell in
column B I get the formula to return zero.

$ volume
$8.25 300
$8.67 200
$8.17

This modification of the conditional SUM formula works for MAX and AVERAGE,
but not MIN. Any ideas? I'm using Excel 2003.
 
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