By Ben Musanje
19th Nov 2021
The government has assured Ugandans that the rise in fuel prices won’t exceed the reserve price agreed on with the dealers.
Solomon Muyita, the Ministry of Energy and Mineral Development Spokesperson says that they are in negotiation with about 300 fuel dealers in the country to ensure that prices are not exorbitantly hiked but instead it is reduced to an affordable manner for Ugandans by next month.
Recently, the ICT and National Guidance Minister Dr. Chris Baryomunsi indicated that rise in fuel prices is a global challenge in an apparent reference to the $20 or Sh72,000 jump in price per barrel of Brent crude oil on the world market over seven months from April this year.
Muyita says that though it is a free market for fuel players to charge according to the global market and demand, the government is closely monitoring the comparison prices in the region for Uganda not to exceed.
This comes as oil prices have escalated rising transport and food costs likely to fuel inflation ahead of the festive season.
In Uganda, pump prices for a litre of petrol went up by between Shs4600 to 4800 and Sh4200-Sh4300 for a litre of diesel.
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