Fuel pump prices drop further
Motorists may soon get more relief from the high fuel pump prices should the global crude oil prices continue to drop, the Energy ministry has said.
Mr Solomon Muyita, the spokesperson of the Energy ministry, told this publication yesterday that the current slight reduction in fuel pump prices in the country has been possible due to the drop in the cost of crude oil from about $100 (about Shs383,000) per barrel to between $90 (Shs344,000) and $80 (Shs306,000).
“The ministry has in the last two months been engaging oil marketing companies to bring the prices a bit down because the cost of crude oil has dropped. Crude oil is the major determinant of the fuel pump prices,” Mr Muyita said.