U.S. gasoline inventories rise
The U.S. Energy Information Administration reported gasoline stockpiles rose by 2.3 million barrels last week, surpassing analysts' forecasts and showing the economic crisis has hit fuel demand hard. Distillate inventories jumped by 2.9 million barrels and crude stockpiles fell by 3.7 million barrels.
U.S. announces $408 fund for clean coal technologies
The U.S. Department of Energy announced a federal fund of $408 million for two carbon capture and sequestration projects, aimed at developing technologies that reduce carbon dioxide emissions from coal-fired electricity plants which generate nearly half the electricity needed in the country.
India increases gasoline, diesel prices
India raised gasoline and diesel prices for the first time this year by as much as 10 percent. Petrol will increase by 4 rupees a liter and diesel rose by 2 rupees a liter. Prices were last raised in June 2008.