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Fuel prices up

By Vision Reporter

Added 13th March 2003 03:00 AM

FUEL prices have been increased again. The looming US attack on Iraq, coupled with the escalating rate of the US dollar, have forced oil companies in the country to raise fuel prices again.

FUEL prices have been increased again. The looming US attack on Iraq, coupled with the escalating rate of the US dollar, have forced oil companies in the country to raise fuel prices again.

FUEL prices have been increased again. The looming US attack on Iraq, coupled with the escalating rate of the US dollar, have forced oil companies in the country to raise fuel prices again.

Yunusu Abbey reports that departing from tradition, diesel, which has always attracted lesser increment, has this time risen by sh50 to sh1,450 per litre.

Petrol and kerosene, have each been increased by sh40 from sh1,700 to sh1,740 per litre. Kerosene, which has been at sh1,280, has gone up to sh1,320.

Like in the previous increments, the latest pump price adjustments have also been attributed to the escalating crude oil prices on the world market. By yesterday, a barrel of Brent North Sea crude oil was at $33.16.

The US dollar which yesterday climbed to sh2,015 (selling) and sh1,995 (buying), has also been cited among the reasons for the fuel price increment.

A Shell Uganda official said the diesel price rise was higher “because it is the most affected product. We have decided to change the prices because of the prevailing situation on the international market and the US dollar exchange rate,” he said.

Shell outlets were the first to adjust the pump prices from 6pm.

The recent fuel price rise was effected on February 21, when petrol and diesel each went up by sh70 per litre, while kerosene price shot up by sh50 a litre.

The February pump price increase, which was the third since the beginning of 2003, saw petrol going up from sh1,630 to sh1,700 per litre.

Diesel, then at sh1,380 went up to sh1,450 a litre, while kerosene was raised from sh1,230 to sh1,280 per litre.

The pump prices started changing last December when there were reported problems with supplies on the Mombasa-Nairobi-Eldoret pipeline.

In late December 2002, the oil refinery at the Kenyan coastal city of Mombasa reportedly developed some technical faults which interrupted the supplies.

Fuel prices up

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