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Fuel retailers blame Uganda's rising fuel prices on tensions in Kenya
When the fuel prices go high, there is a likelihood that it could have a ripple effect on the economy, which remains wobbly

When the fuel prices go high, there is a likelihood that it could have a ripple effect on the economy, which remains wobbly

 

Last year around December, petrol prices stood at 3650 and diesel at 3100 shillings

However two weeks into the new year, the prices have shot to 3850 for petrol and 3300 for diesel.

 

Speaking to NTV the Managing Director of Total Uganda, Florentin de Loppinot said that the major cause the high prices is the increased crude oil prices on the international market and the tension in Kenya during the recently concluded election.Florentin believes there is a silver lining behind the high prices in crude oil

 

Experts say Uganda could enjoy stable fuel prices by increasing its storage capacity.

 

However, although transport prices have not gone up yet, the dealers are feeling the pinch

Most of the drivers of these public transport vehicles remit a weekly fee to the car owners and in most cases even when the fuel prices go up, the bosses expect the same fare.