Uganda oil marketing companies under their umbrella body, the Sustainable Energies and Petroleum Association of Uganda (SEPA Uganda), have denied government accusations of hoarding fuel and manipulating prices as pump prices continue to rise across the country.
In a statement released on Sunday, SEPA, which represents licensed downstream oil marketing companies in Uganda, noted that allegations of fuel hoarding, price inflation, and cross-border smuggling by the state are unfounded.
“The downstream petroleum sector in Uganda operates within robust compliance frameworks, supported by internal controls and continuous monitoring to promote transparency and accountability. Member companies are required to operate under strict regulatory oversight and to comply with all applicable laws, standards, and government directives” the statement reads.
SEPA further noted that Uganda’s fuel supply is centrally coordinated by the Uganda National Oil Company (UNOC), and directed all inquiries about the pump prices be directed to the government agency.
“Current pricing pressures, supply constraints, and isolated fuel shortages at some service stations are a direct result of disruptions in global oil markets driven by ongoing conflict in the Middle East and not deliberate actions by oil marketing companies” the statement reads.
The statement further read, “SEPA Uganda reiterates its members’ firm commitment to ethical conduct, fair pricing, and uninterrupted service delivery. We remain focused on ensuring that fuel supply continues to support essential services, businesses, and communities across Uganda”
Recently Energy Minister Ruth Nankabirwa, accused oil companies of taking advantage of the situation in the Middle East to increase fuel prices across the country.
In the last few weeks, a number of fuel stations have run dry, with reports of rationing and hiking of fuel for those that have in several parts of the country.
