Consumers are up for another financial pain at the pumps and in their kitchens as oil and liquefied petroleum gas (LPG) prices will track new round of upticks, based on the pricing advisories of the industry players.

As culled from the price movement notices of the oil companies, the price of gasoline products will rise by P0.95 per liter; while diesel prices will go up by P0.65 per liter.

Additionally, kerosene, which is the other commodity in the triumvirate of weekly price adjustments, will increase by P0.35 per liter, according to the oil firms.

As of press time, the oil companies that already advised on their price hikes effective Tuesday (July 2) had been Shell Pilipinas Corporation, Cleanfuel, Seaoil Philippines and PetroGazz; while their competitor-firms are all anticipated to follow.

Apart from products retailed at the pumps, there will be added strain on household budgets this July as the price of LPG will have an upward adjustment of P0.55 per kilogram; summing up to P6.05 for the standard 11-kilogram cylinder.

The LPG players which already notified on their cooking fuel price increases had been Petron Corporation and Solane -- and that took effect July 1, taking cue from uptrend in international prices.

Unlike the fuel commodities at the pumps which are changing weekly, the cost movements for LPG products typically stay for the rest of the month and they follow the swing of international contract prices referenced on Saudi Aramco, the benchmark for the Asian markets.

On oil products for vehicles, it was emphasized that prices had swung to elevated levels anew last week due to renewed escalation of geopolitical tension between Israel and Lebanon.

Nevertheless, market watchers noted the possibility of price slowdown in the days ahead due to concerns on US inflation adjustment as well as its economic data.

As of Monday (July 1) trading, international benchmark Brent crude had softened a bit to $85 per barrel from the $86 per barrel upswing that it set foot on last week.