Business 30 April 2026 Daily Monitor (Uganda)
Fuel Anxiety Rises in Uganda Amid Panic Buying and Global Price Surge Despite Stable Supplies
Uganda's government assures ample fuel stocks for months ahead, yet panic buying, empty pumps in rural areas, and soaring global oil prices are fueling consumer fears of shortages and higher costs. This surge in demand risks self-fulfilling price hikes and inflation across transport and goods. Source: https://www.monitor.co.ug/uganda/business/markets/no-shortage-but-rising-anxiety-panic-buying-and-price-fears-grip-the-fuel-market-5442682
Uganda’s fuel market is experiencing heightened tension as motorists rush to fill tanks and jerricans, even though officials confirm no shortage exists. Energy Minister Ruth Nankabirwa recently stated at a conference that supplies are steady with more imports arriving regularly.
National reserves cover nearly three months, bolstered by recent shipments from Mombasa, including a large petrol delivery in April. Daily consumption has doubled from the usual eight million litres, signaling widespread insecurity among consumers, according to Dr. Patricia Litho from the Ministry of Energy.
Upcountry stations report intermittent dry pumps due to logistics delays, exacerbating anxiety in remote areas. Global oil prices have jumped from $65 to $120 per barrel since late 2025, driven by geopolitical conflicts, pushing local petrol to Shs5,450 per litre and diesel to Shs5,420, with more rises expected in May.
Economist Susan Kavuma warns that panic buying empowers suppliers to hike prices, eroding consumer benefits. Higher fuel costs threaten transport fares, food prices, and overall inflation, currently at 3%.
Government is expanding storage at Jinja and Mpigi, relying on UNOC’s centralized imports via Vitol for stability. Long-term plans include a national refinery to cut import reliance.
The situation highlights how perception can strain even robust supplies, with uneven distribution challenging confidence nationwide.
Source: Daily Monitor (Uganda)