Government speaks out on escalating fuel prices

The government has urged the public not to panic over the recent rise in fuel prices saying it’s a global challenge and they are working around the clock to solve the problem.

This has been confirmed by the Information and ICT minister Dr Chris Baryomunsi saying that the government is exploring various options to handle the recent increase in fuel prices.

This comes as oil prices have escalated rising transport and food costs likely to fuel inflation ahead of the festive season.

According to Baryomunsi, the problem is global, in an apparent reference to the $20 or Sh 72,000 jump in price per barrel of Brent crude oil on the world market over seven months from April this year.

Baryomunsi adds that energy minister Ruth Nankabirwa is in Abu Dhabi, the capital of the United Arab Emirates, a member of the Organisation of Petroleum Exporting Countries (OPEC), to engage oil producers for a solution to fast-rising oil prices across the globe.

In Uganda, pump prices for a litre of petrol went up by between Shs 100-sh 630 and Sh60-Sh 200 for a litre of diesel, with the highest spike margins reported in Rukungiri and Bushenyi districts.