Rédaction Africa Links 24 with Uganda Monitor
Published on 2024-04-19 08:46:31
Fuel prices in Uganda are currently the third most expensive in the East African region, as reported by a global fuel price tracker. GlobalPetrolPrices.com, a website that monitors fuel prices worldwide, shows that the average cost of a liter of petrol in Uganda is $ (Shs5,529), which is slightly lower than in Kenya but higher than in Tanzania.
In comparison, Kenya has an average petrol price of $1.522 (Shs5,799) per liter, while Burundi and Rwanda have prices of $1.516 (Shs5,777) and $1.363 (Shs5,194) per liter, respectively. On the other hand, DR Congo and Tanzania enjoy the cheapest petrol prices in the region at $1.156 (Shs4,405) and $1.26 (Shs4,801) per liter, respectively.
Zimbabwe has the highest petrol prices on the African continent at $1.69 (Shs6,440) per liter, while Hong Kong tops the global scale with a price of $3.184 (Shs12,133) per liter. Interestingly, the fuel price tracker does not provide data for South Sudan, another member of the East African Community.
When it comes to diesel prices, DR Congo has the lowest prices in the region at $1.152 (Shs4,389) per liter, followed by Tanzania and Rwanda at $1.239 (Shs4,721) and $1.301 (Shs4,957) per liter, respectively. Uganda’s diesel price averages at $1.303 (Shs4,965) per liter, while Kenya has the highest diesel price in East Africa at $1.487 (Shs5,666) per liter.
Fuel prices remain a pressing issue across East Africa, impacting the region’s growth and the economic health of its member states. In Uganda, fuel prices are expected to rise in the upcoming financial year due to proposed tax increases on petrol, diesel, and kerosene. The new tax bills suggest raising the levies on petrol from Shs1,450 to Shs1,550 per liter and on diesel and kerosene from Shs1,130 to Shs1,230 and Shs200 to Shs500 per liter, respectively.
Analysts predict that these proposed increments will affect fuel prices, which had started to drop to pre-Covid-19 levels but have risen again due to the sharp depreciation of the Ugandan shilling against the dollar since January. Fuel prices in the region are influenced by taxation regimes, with fuel levies being a significant source of tax revenue for many countries.
In Africa, Libya and Angola have the lowest fuel prices, with petrol costing $0.031 (Shs118.1) and $0.36 (Shs1,371) per liter, and diesel priced at $0.031 (Shs118.1) and $0.162 (Shs617.3) per liter, respectively. Despite efforts to regulate fuel prices, they continue to fluctuate, impacting the economy and the livelihoods of people across East Africa.
Read the original article on Uganda Monitor
