Ugandans could soon experience relief at fuel stations after Irene Bateebe, the Permanent Secretary in the Ministry of Energy, announced that the country has entered what she described as “recovery months” expected to stabilize and gradually reduce fuel prices.
Speaking amid growing public concern over fluctuating pump prices, Bateebe said May and June traditionally provide improved fuel supply conditions and calmer market trends, creating room for a reduction in retail fuel costs in the coming weeks.
“May and June are recovery months. We expect fuel prices to begin reducing in the near future as supply normalizes and market pressures ease,” Bateebe said.
Her remarks come at a time when motorists, transport operators and businesses have been grappling with high operational costs driven by persistent fuel price volatility.
According to the Ministry of Energy, government officials are closely monitoring international oil market movements and regional supply chains, which have recently shown signs of improvement after months of disruptions and price instability.
Bateebe, however, warned Oil Marketing Companies (OMCs) against fuel hoarding, cautioning that artificial shortages and speculative practices could undermine efforts aimed at stabilizing the market.
“We are cautioning OMCs against hoarding fuel. Any attempts to manipulate supply for abnormal gains will be dealt with accordingly,” she said.
Fuel hoarding often triggers panic buying and sharp price increases, especially during periods of uncertainty in global oil markets. Authorities believe tighter monitoring and enforcement measures will help maintain steady supply during the anticipated recovery period.
Industry analysts say any sustained reduction in fuel prices could ease pressure on transportation costs and commodity prices, providing broader economic relief to consumers and businesses.
Uganda remains heavily reliant on imported petroleum products, making local pump prices highly sensitive to global crude oil trends, exchange rate fluctuations and regional logistics challenges.
With the government projecting improved market conditions over the coming weeks, many Ugandans will be watching fuel stations closely for signs of the promised price relief.
