By URN<\/p>\n
Uganda has now increased its petroleum products stock buffer to more than four months of imports, courtesy of the Uganda National Oil Company (UNOC).\u00a0On Christmas Eve, UNOC announced the arrival of two more vessels at Mombasa Port carrying petroleum products that brought the total stock in the country to more than 1 billion liters.<\/p>\n
Currently, Uganda consumes about 240 million liters of refined petroleum products excluding aviation fuel per month, up from 180 million liters record before the COVID-19 outbreak, according to the Ministry of Energy and Mineral Development.\u00a0One of the major reasons behind the government’s decision to create a state monopoly in petroleum importation was to ensure a stable supply that would result from challenges faced by importing through private marketing companies licensed by the Kenyan government.<\/p>\n
Now, with the country able to stock more than 1 billion liters, which would be enough to last the country at least four months, the company has achieved stability in supply.\u00a0\u201cIt ought to be noted that the UNOC is bringing in all products 100 percent apart from aviation fuel,\u201d says Patricia Litho, the Head of Communications at the Ministry, adding, \u201cPart of our mandate is to make sure that the country is stocked up at all times.\u201d<\/p>\n
UNOC\u2019s role is to import, store, and distribute the products to oil marketing companies, which then reach the last mile consumers through the retail companies.\u00a0In ensuring adequate stockpiles, UNOC has not only achieved supply stability but is also contributing to the falling prices at the pump stations over the last five months.\u00a0UNOC began importing petroleum products for Uganda in 2024 and the first delivery in the country was made in July, under a contract between the company and Vitol Bahrain EC, a Middle East bulk supplier of petroleum products.<\/p>\n
In September, retail prices started dropping and have since relatively settled from a high 5,500 shillings per liter of petrol to 4,900 shillings at Shell and TotalEnergies stations, the two major distributors will a quarter of the market share.\u00a0Diesel goes for an average of 4,600 a liter.<\/p>\n
Other retailers quote a liter at between 4,750 and 4,599 Shillings, while they are selling diesel at 4,288.\u00a0While stating his reasons as to why Uganda should import the commodity directly instead of through Kenya-based middlemen, President Yoweri Museveni said in December 2023 that the then prevailing method was leading to the overpricing for Ugandans.<\/p>\n
He said that bulk suppliers priced a liter of petrol at 83 dollars (305,400 shillings) per barrel, but that the middlemen sold it to Uganda at 118 dollars (434,000 shillings in today\u2019s exchange rate), gaining more than 40 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"
By URN Uganda has now increased its petroleum products stock buffer to more than four months of imports, courtesy of the Uganda National Oil Company (UNOC).\u00a0On Christmas Eve, UNOC announced the arrival of two more vessels at Mombasa Port carrying petroleum products that brought the total stock in the country to more than 1 billion […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[12],"tags":[],"class_list":{"0":"post-8737","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-oil-and-gas"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/posts\/8737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/comments?post=8737"}],"version-history":[{"count":1,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/posts\/8737\/revisions"}],"predecessor-version":[{"id":8739,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/posts\/8737\/revisions\/8739"}],"wp:attachment":[{"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/media?parent=8737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/categories?post=8737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/tags?post=8737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}