Uganda Fuel Prices to Surge Further from May Amid Global Crude Spike

Energy Minister Ruth Nankabirwa has reassured the public that Uganda faces no fuel shortage, with reserves sufficient for about three months. Speaking at the 11th Annual Oil & Gas Convention at Speke Resort Munyonyo on April 28, 2026, she emphasized steady supplies of petrol, diesel, and jet fuel, including new shipments arriving regularly.

Recent weeks saw petrol and diesel prices rise by at least Shs200 nationwide, with some rural areas experiencing hikes over Shs1,000 per litre. Current prices stand at around Shs6,000 for petrol and Shs5,500 for diesel, up from Shs5,000 and Shs4,300 two months prior. This follows a global crude oil surge from $65 to $120 per barrel, triggered by Middle East tensions.

The minister noted that cheaper imported stocks will soon deplete, with costlier new cargoes—such as 119 million litres of petrol already in Mombasa and more en route—pushing prices higher from May. UNOC, the sole importer under the 2023 Petroleum Supply Act, has diversified sources beyond the Middle East.

These stocks provide 67 days of petrol, 84 days of diesel, and 89 days of jet fuel coverage based on daily consumption of about 8 million litres. Isolated stock-outs stem from logistics, not shortages, Nankabirwa said, urging against panic buying.

To address border price distortions in areas like Arua and Tororo, authorities are tackling hoarding and illicit trade with security support. Long-term, expansions at Jinja and Namwabula terminals, Vitol financing, and a planned 60,000-barrels-per-day refinery aim to bolster energy security.

“Government is firmly in control,” the minister affirmed, highlighting robust planning.

Source: Daily Monitor