Uganda’s Fuel Prices Rise Amid Global Oil Disruptions

Uganda’s energy minister Monica Musenero reported that pump prices have increased to between Shs 6,800 and Shs 7,000 per litre due to international supply disruptions, currency depreciation, and higher domestic taxes. She noted that the country’s fuel stocks remain adequate for national demand but emphasized limited government control over pricing because Uganda operates a liberalised petroleum市场.

The International Energy Agency (IEA) warned that global oil market pressures are affecting Uganda, where imported petroleum costs depend on international prices, exchange rates, and transportation expenses. The agency urged member governments to release emergency oil reserves and prioritize diesel supplies amid disruptions in the Strait of Hormuz and reduced Russian oil exports.

IEA estimates that member countries hold approximately 1.1 billion barrels of publicly held emergency oil reserves, including over 200 million barrels of diesel.