What’s driving Uganda’s high fuel prices

Two months after the Uganda National Oil Company (Unoc) took over as the sole importer and supplier of petroleum products into the country, pump prices remain high, signalling more problems associated with the supply lines.

There has been a slight drop in average pump prices, attributed partly to direct importation of fuel products yielding reduced logistics costs. But the change is pegged to other factors, mainly the appreciation of the Ugandan shilling against the US dollar, and the lower global price of crude.

According to Trading Economics, Brent crude on Thursday sold at $77.6…