Ugandan motorists are celebrating a long-awaited drop in fuel prices. For the first time in months, petrol prices have fallen from UGX 5,600 to about UGX 4,950 per litre across most stations. This development is bringing much-needed relief to transport operators and everyday commuters.
According to the Ministry of Energy, the decline comes as global oil markets stabilize and the Ugandan shilling strengthens against the US dollar. Energy Minister Ruth Nankabirwa confirmed that the government is working closely with suppliers to maintain fair and consistent prices.
“We are seeing real relief after months of rising costs. The government will ensure that this benefit reaches all Ugandans,” she said.
The drop is expected to lower transport fares, reduce production costs, and make basic goods more affordable. Boda-boda riders and taxi operators have already started cutting fares, while traders expect prices of food and household items to ease soon.
Economists say this reduction will likely boost consumer spending and slow down inflation. However, they warn that the global oil market remains unpredictable. Uganda, therefore, needs to strengthen its fuel reserves and promote alternative energy sources to stay stable in the long term.