SINGAPORE, June 25 Reuters Oil prices were little changed on Tuesday after rising in the previous session helped by expectations of increased fuel demand this summer, but investors were cautious ahead of U.S. consumer price data.

Brent futures for August settlement eased 5 cents to 85.96 a barrel as of 0640 GMT after gaining 0.9 on Monday, while U.S. crude futures were down 3 cents at 81.60 a barrel after climbing 1.1 a day earlier.

Both benchmarks rose about 3 last week, marking two straight weeks of gains.

Gasoline demand is rising and oil and fuel stockpiles have declined as the U.S., the world39;s biggest oil consumer, enters the peak summer consumption period.

U.S. crude oil stockpiles are expected to have fallen by 3 million barrels in the week to June 21, a preliminary Reuters poll showed on Monday. Gasoline stocks were also expected to have declined, while distillate inventories likely rose last week.

The surge in oil prices was triggered by an optimistic demand outlook and reduced U.S. inventories. With the Northern Hemisphere entering a hot summer and the upcoming hurricane season, demand is expected to continue increasing in the coming months, said independent market analyst Tina Teng.

Still, investors are cautious about the potential for further oil price increases on concerns that high interest rates will limit growth in fuel consumption by curtailing the economy.

The release of the personal consumption expenditures index, the Fed39;s preferred…