Major players of the fuel industry have eased the fuel pump prices. For petrol from between August and November 2022 at 6500 -10,000 to less than 5000 per litre for the first time in about a year. Petrol at a total energies station on Gayaza road was seen at 4.999 and diesel at the same price.

Reasons for the reduced fuel pump prices according to Mr. Muyita Solomon-spokesperson at the energy ministry;

“…The Russia –Ukraine war has seen discussions held at an international level to ensure continuity of oil production and supply. The drop we are seeing today is an outcome of the efforts put in place,” he said.

During the Russia- Ukraine war, fuel prices skyrocketed having many countries that especially relied on Russia for oil on the wall after having Russia blacklisted. Russia contributes 13 percent to the world oil supply.

According to Mr. Muyita, the other reason is the 4.5 million litres of fuel now being transported from Kenya via Lake Victoria daily, a move that has reduced the transportation costs to about 50 percent.

“In Uganda, we approximately use 7 million litres of fuel a day, so if we have more than 70 percent of this transported at a cheaper cost, it is definitely going to help us reduce the pump price.”

courtesy photo.