Uganda Fuel Prices Rise to Shs5,399 per Litre Amid Global Tensions and Government Warnings

Fuel prices across Uganda edged higher at the start of the week, pushing petrol costs up to Shs5,399 per litre in Kampala stations. This marks an increase of Shs100 to Shs149 from last week’s average of Shs5,250, while diesel climbed to around Shs5,150 from Shs5,000.

At Shell outlets, petrol sells for about Shs5,350 and diesel Shs5,150. Mogas stations list petrol at Shs5,399 and diesel at Shs5,099. These hikes persist even after Energy Minister Ruth Nankabirwa urged oil marketing companies to maintain stability, citing upcoming fuel deliveries.

Global crude oil prices have jumped to $100 per barrel from $60 recently, fueled by Middle East tensions and disruptions near the Strait of Hormuz. Uganda’s shilling has weakened to Shs3,728/3,738 per dollar from Shs3,500, adding pressure on import costs.

The Uganda National Oil Company, partnering with Vitol Bahrain, has arranged alternative supplies. Over 210 million litres have arrived, with 300 million more en route to cover April needs. Still, analysts caution that ongoing rises could inflate transport expenses and overall prices.

Kampala City Traders Association’s acting chair Issa Ssekito warned that goods prices will soon follow suit. Money market expert Stephen Kaboyo noted Uganda’s vulnerability as a net energy importer amid global volatility, with the dollar strengthening as a safe haven.

Traders are pressing for government action to shield consumers from further inflationary impacts.

Source: Daily Monitor (Uganda)