Citing an increase in the world prices of oil, the Department of Energy hinted over the weekend at a possible increase in prices of fuel products this coming week.

DOE Oil Industry Management Bureau director Zenaida Monsada said this may thwart bids to further roll back public transport fares, radio dzBB reported Saturday.

Monsada was quoted in the report as saying prices of oil in the world market had gone up.

Last weekend, Monsada had already noted a possible upward trend of oil prices in the world market. She said last week this was partly due to the US economy recovering.

An oil price hike this coming week may snap at least 12 straight weeks of fuel price rollbacks since April.

The rollbacks since April had been enough to prompt a rollback as well in passenger jeep fares, from P8 to P7.50. — LBG, GMA News