Friday, May 23, 2025
UG Standard - Latest News
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us
  • Login
UG Standard - Latest News
Your browser does not support the video tag.
ADVERTISEMENT

Optimism as fuel prices drop further

by JAVIRA SSEBWAMI | PUBLIC EDITOR
18/09/2022
in News
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter
2020, Uganda has seen a relatively higher rise compared to the neighboring countries, including the landlocked states.
Fuel Prices have continued to drop in Uganda (PHOTO /Courtesy)

Businessmen and experts have expressed optimism that the continued drop in fuel prices in Uganda will help to lower the cost of doing business.

In the past two months, there has been a drop in the fuel pump prices from an average of 6,800 Shillings a litre of petrol to about Shs5,800, and diesel from about Shs6,400 to now about Shs5,500.

Related posts

The accused person (standing) in court on Tuesday as they read for him the charges. Courtesy photo

Former Lira district Councilor remanded over charges of Conspiracy to defraud

20/05/2025
167
Amb. Milton Kambula, President Global Peace Foundation (GPF)

2026 Elections: Amb. Kambula urges Ugandans to Desistfrom Political, Tribal Divisions

20/05/2025
165
Deputy Chief Justice Dr. Flavian Zeija being welcomed by Acting Chief Registrar, Pamella Lamunu and Judiciary Public Relations Officer, Eremye Mawanda on Thursday.

Judiciary extends service closer to people on Buvuma Court open day

18/05/2025
167
The acused in dock on Friday. (Courtesy photo)

Advocate charged and remanded over Forgery

17/05/2025
270

Honey Malinga, the Commissioner for Petroleum in the Ministry of Energy and Mineral Development, says these prices will continue to drop because all the factors that contributed to the increase have since stabilized, and others have been contained.

The principal communications officer at the Energy ministry, Mr Solomon Muyita, attributed the fuel price reduction to a slight drop in prices of crude oil on the international market.

“We have seen a drop in crude fuel prices at the international market. In many areas, prices dropped from $100 (Shs372,751) to about $80 (Shs306,156). Usually, when there is a drop in crude oil prices, it translates to a drop in refined product,” Mr Muyita said.

“We have seen it for over two weeks, but only that our countries, which are land locked and far from the source, take time for that change to be realised at the pump,” he added.

Whereas the fuel prices are stabilizing as noted earlier, there is a noticeable difference between the prices of two major dealers in the market and others with the former having high prices than the latter.

This has kept the average price higher across the country.

The commissioner attributes this to expensive fuel, which was brought in by these big players through Tanzania during the perceived tension of the recently concluded Kenyan elections.

“As tension was building up in Kenya as the polls drew nearer, some retailers reduced their supplies and waited for the situation to normalize, however, these big players braved the increased transport costs and used the Tanzanian route, and made sure the country has reserves ready for the worst from Kenya,” he said.

According to Malinga, these big dealers, still have this expensive fuel in their reserves, and when it depletes, the pump prices will further reduce.

Share this:

  • Share
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on X (Opens in new window) X
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on X (Opens in new window) X
  • Click to share on Pinterest (Opens in new window) Pinterest
  • Click to share on Telegram (Opens in new window) Telegram
  • Click to share on WhatsApp (Opens in new window) WhatsApp

Like this:

Like Loading...

Related

Tags: FeaturedFuel Prices drop in UgandaFuel prices in UgandaUkraine Russian conflict

Related Posts

 Abbas urges U.S. to compel Israel to stop violations against Palestinians
News

 Abbas urges U.S. to compel Israel to stop violations against Palestinians

05/11/2022
0
236

Abbas urges U.S. to compel Israel to stop violations against Palestinians RAMALLAH, Nov. 4 (Xinhua) -- Palestinian President Mahmoud Abbas...

Read moreDetails
Equity ranked 4th strongest banking brand globally on brand strength, scoring 92.4 points out of 100

 Equity Bank Under Scrutiny for Alleged Role in UGX.3bn Fake Gold Scam

09/07/2024
533
Kabuleta and other opposition politicians have teamed up to put an end to Museveni's leadership

 Kabuleta, other opposition politicians team up to put an end to Museveni’s leadership

27/02/2024
394
President Museveni

 Museveni commends Ugandan scientists! 

21/07/2020
855
Load More

Popular Articles

  • Check out the top schools with pupils who scored 6 in 4 aggregates in the 2024 PLE results, as released by UNEB

    PLE 2024 Results: Top Schools with 6 in 4 Aggregates

    4301 shares
    Share 1720 Tweet 1075
  • NIRA unveils high-tech National ID, mass enrollment set to begin

    2591 shares
    Share 1036 Tweet 648
  • FULL LIST: Ministry of Education, NCDC publish self-study workbooks amid COVID-19 lockdown

    3318 shares
    Share 1346 Tweet 822
  • How to Check PLE Results 2024 on Phone, Online

    1776 shares
    Share 710 Tweet 444
  • PLE 2024 Results: UNEB Clarifies on Release Date

    1647 shares
    Share 659 Tweet 412
  • MPs clear govt to cancel 2020 academic year

    2795 shares
    Share 1149 Tweet 686
  • UNEB agrees to adjust examinations timetables to accommodate lost time

    2660 shares
    Share 1086 Tweet 656

Recent Articles

Uganda's Constitutional Court delivers landmark ruling, denying Leadership Code Tribunal members judicial privileges

HRNJ-Uganda Supported Journalist Wins 5-Year Legal Battle Against Brutal Ex-Lira Mayor

23/05/2025
D/ASP Charles Twine (in army green jacket) with Noah Mutwe arriving at Buganda Road court on Thursday.

TREASON? Ex-CID Boss Busted for Threatening Museveni, Muhoozi!

23/05/2025
Gen. Salim Saleh, a key presidential advisor, meets with European Union officials, including Ambassador Jan Sadek in Gulu, Uganda, calling for a "political ceasefire" and inter-party dialogue ahead of the 2026 general election.

Gen. Saleh addresses EU concerns over CDF Muhoozi’s tweets

23/05/2025
Uganda's Education Ministry has issued strict new guidelines banning extravagant school parties, luxury transport, and lavish election campaigns. The move aims to restore discipline and curb excessive displays of wealth, with headteachers facing disciplinary action for non-compliance.

Education ministry bans cars, couples, choppers and lavish parties in schools

23/05/2025

aBi Finance, UIBFS Equip Lenders for Climate Challenges

23/05/2025
Tree-climbing lions in Ishasha, are one of the wildlife attractions unique to Uganda and a few other countries on the African continent. With proper investment in marketing the destination

UK travel advisories hurt Uganda park tourism

23/05/2025

Whistleblower Alleges Widespread Judicial Fraud in Uganda Courts

23/05/2025

Recent CommentsRecent Comments

  • Parliamentary Committee Grills Local Government Over PDM Funds, Accountability – Press Uganda on Parliamentary committee grills local government over PDM funds, accountability
  • Uganda Faces Billions In Tax Losses From Thriving Illicit Alcohol Trade – Press Uganda on Uganda Faces Billions in Tax Losses from Thriving Illicit Alcohol Trade
  • CAUGHT RED-HANDED?! Top Kampala Lawyer-Lender Faces Claims Of Courtroom Manipulation And “Phantom Documents”! – Press Uganda on CAUGHT RED-HANDED?! Top Kampala Lawyer-Lender Faces Claims of Courtroom Manipulation and “Phantom Documents”!
  • Centenary Bank Boss: Startups Should Leverage TikTok For Growth – Press Uganda on Centenary Bank boss: Startups Should Leverage TikTok for Growth
  • 3 Dead, 9 Injured In Mukono Highway Crash – Press Uganda on 3 Dead, 9 Injured in Mukono Highway Crash
UG Standard - Latest News

UG Standard, published via www.ugstandard.com isa publication of Sahel Media Solutions Ltd, a professional Digital/New Media company in Uganda info@ugstandard.com

Follow us on social media:

Latest News

  • HRNJ-Uganda Supported Journalist Wins 5-Year Legal Battle Against Brutal Ex-Lira Mayor
  • TREASON? Ex-CID Boss Busted for Threatening Museveni, Muhoozi!
  • Gen. Saleh addresses EU concerns over CDF Muhoozi’s tweets
  • Education ministry bans cars, couples, choppers and lavish parties in schools
  • aBi Finance, UIBFS Equip Lenders for Climate Challenges
  • UK travel advisories hurt Uganda park tourism

OpED

Understanding Air Expansion and Its Impact in Kasese District, Western Uganda

The Empire, the Spectacle, and the Soft Coup in South Africa

Inside South Africa’s Retail Shake-Up

Afrikaners for the U.S. as Refugees?

In Memoriam: Rajiv Ruparelia – A Legacy of Vision and Heart

© 2024 Ugstandard - Latest News by Digital/New Media company.

Welcome Back!

Sign In with Facebook
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us

© 2024 Ugstandard - Latest News by Digital/New Media company.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d