THE LINK: Understanding fuel prices
When Global fuel prices rise, the pump price almost immediately goes up locally but when the world prices go down, retailers take ages to respond, today prices are 6600ugx,6800 outside Kampala for petrol etc
Let’s give it some bit of (GFX) context, Oil prices today, Oil prices fell about 1% in early trade on Wednesday, reversing gains from the previous session ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar. Brent crude futures fell 94 cents, to $99.60 a barrel earlier this afternoon, wiping out the previous session's gain. West Texas Intermediate (WTI) crude futures were down 68 cents, at $93.74 a barrel.
