Oil marketing companies have dismissed claims that they are exploiting current geopolitical tensions by hoarding fuel and charging exorbitant prices.
Government officials, including Energy Minister Ruth Nankabirwa, have previously accused oil companies of taking advantage of the situation by increasing fuel prices.
However, in a statement, the Sustainable Energies and Petroleum Association of Uganda (SEPA Uganda), the umbrella body representing licensed downstream oil marketing companies in Uganda, said allegations of fuel hoarding, price inflation, and cross-border smuggling 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,” SEPA Uganda said.
The association added that Uganda’s fuel supply is centrally coordinated by the Uganda National Oil Company (UNOC), and that all official inquiries regarding national fuel stocks, supply levels, and imports should be directed to the agency.
According to SEPA Uganda, current pricing pressures, supply constraints, and isolated fuel shortages at some service stations are a result of disruptions in global oil markets driven by the ongoing conflict in the Middle East, rather than deliberate actions by oil marketing companies.
“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,” the statement added.
