By Executive Editor
The Ministry of Energy and Mineral Development has explained why the cost of fuel is going up.
The Minister of State for Energy, Sidronius Okaasai, attributes the rising fuel prices in Uganda to the deepening OPEC and supply cuts, strong world oil demand, and the seasonal impact of the summer season in Europe and the United States, saying the situation has been worsened by the foreign exchange fluctuations.
He, however, said that Uganda’s prices are competitive at the EAC regional level.
When asked by Speaker Anitah Among what interventions the government has come up with to intervene on skyrocketing fuel prices, Okasaai said, “We shall continue assuring the country and monitoring supply.”
“What my ministry is responsible for is assuring the country since these are global issues,” Okasai said.
