Alex B. Atuhaire Petroleum prices jumped once again Wednesday, reaching above the Shs 1,500 mark for the first time in almost three months as world prices rose with cuts in major producing countries. The sharp jump is causing jitters among consumers, and oil companies fearing a slump in consumption met with the Energy Ministry earlier this month over a fear of sky-rocketing prices.
Government is already aware of the problem and is working on it.
The price of petrol and diesel shot up Wednesday evening by Shs 50 and Shs 30 respectively at most fuel stations in Kampala. Petrol was selling at Shs 1520 from Shs 1470, while, diesel shot up to Shs 1300 from Shs 1270. However the price of Kerosene remained Shs 1160. The Shell country manager said that the increase in prices would affect upcountry stations too. Bromilow, said that the basic cause of the latest increase in prices was the rise in cost prices on the world market.