We investigate the site-percolation problem on the square and simple-cubic lattices by means of a Monte Carlo algorithm that in fact simulates systems with size L(d-1) x infinity, where L specifies the linear system size. This algorithm can be regarded either as an extension of the Hoshen-Kopelman method or as a special case of the transfer-matrix Monte Carlo technique. Various quantities, such as the magnetic correlation function, are sampled in the finite directions of the above geometry. Simulations are arranged such that both bulk and surface quantities can be sampled. On the square lattice, we locate the percolation threshold at p(c) =0.592 746 5 (4) , and determine two universal quantities as Q(gbc) =0.930 34 (1) and Q(gsc) =0.793 72 (3) , which are associated with bulk and surface correlations, respectively. These values agree well with the exact values 2(-5/48) and 2(-1/3) , respectively, which follow from conformal invariance. On the simple-cubic lattice, we locate the percolation threshold at p(c) =0.311 607 7 (4) . We further determine the bulk thermal and magnetic exponents as y(t) =1.1437 (6) and y(h) =2.5219 (2) , respectively, and the surface magnetic exponent at the ordinary phase transition as y (o)(hs) =1.0248 (3) .