The Ministry of Energy has told parliament that the government has no control over the escalating fuel prices that have rocked the country: saying the crisis has been caused by global factors which are beyond its reach.
Sidronius Opolot Okasaai the state minister of Energy told parliament that the current change in the pump prices has been pumped by the increased world oil demand has reached record levels and the general increase in oil prices on the global oil market with the price of a barrel of crude surging from $74.35 in July 2023 to $82.45 in August 2023. This is on top of Exchange rate fluctuations that have influenced fuel prices in Uganda.
Amidst the crisis, Okasaai informed parliament that their hands are tied and the Ministry will only continue to monitor the subsector to ensure that Uganda’s market gets continuous supply of Petroleum Products through all the supply routes at competitive prices.
The minister however noted that Fuel prices in Uganda are not any different from prices in the region, saying the general increment has affected each country. But MPs did not agree with his submission noting that Uganda has the highest prices of fuel.
Legislators also punched holes in the report on grounds lacked a single solution from government to arrest the crisis of the escalating
MPs questioned why the government has failed to operationalize fuel reserves which would have helped to cushion the fuel impasse.
