Uganda President Yoweri Museveni has promised to sell fuel prices to neighboring counties, especially the Western Kenya region.
This was after Energy Cabinet Secretary Davies Chirchir on Monday, November 6, warned that the ongoing Israel-Hamas war could push the fuel prices to cross the KSh 300 mark.
In a statement, Museveni, who recently dropped Kenya as the premium petroleum importing partner said he will soon start exporting petroleum products to neighboring countries in a move aimed at lowering the fuel prices.
“In a few years’ time, our Refinery will be up and running. I can assure the Inland East Africans of competitive petroleum products, free of distributions caused by middlemen,
“The whole of Uganda, North- Western Tanzania, Rwanda, Burundi, Western Kenya, South Sudan, and Eastern DRC, will benefit,” President Museveni said.
In 2016, Uganda discovered oil reserves in Hoima Town, Western Uganda, and plans were previously announced that the oil from Uganda would be exported abroad via a pipeline from the Tanga Port in Tanzania via the Indian Ocean.
Earlier, Museveni accused Kenyan middlemen of inflating the cost of petroleum products sold to Uganda after importation, costing Uganda billions.
Last week, the Ugandan Ministry of Energy and Mineral Development announced it will now be importing its oil with Vitol Bahrain E.C in a 5-year deal which will be financed by the company.
Uganda will also build its own refinery to buffer stocks in Uganda and Tanzania whenever supply disruptions occur.
Even as the prices of petroleum products in Kenya continue to rise steadily, Uganda and Tanzania have in their latest review announced a reduction in the fuel price at the pump.
