WASHINGTON (MarketWatch) -- The price of petroleum will continue to rise because of ethanol, the weak dollar and political tensions, the oil cartel's president was quoted as saying Sunday.

"The price of oil will rise again in the coming weeks," Chakib Khelil -- the Algerian energy minister and currently president of the Organization of Petroleum Exporting Countries -- said in an interview with an Algerian newspaper. "We have to follow the evolution of the dollar, because a 1% fall in the dollar means $4 more on the price of oil."