{"id":5322,"date":"2013-03-20T14:33:02","date_gmt":"2013-03-20T14:33:02","guid":{"rendered":"http:\/\/kfm.co.ug\/?p=5322"},"modified":"2013-03-20T14:33:02","modified_gmt":"2013-03-20T14:33:02","slug":"ura-explains-high-fuel-prices","status":"publish","type":"post","link":"https:\/\/www.kfm.dembefm.ug\/staging_h\/ura-explains-high-fuel-prices\/","title":{"rendered":"URA explains high fuel prices"},"content":{"rendered":"<p><a href=\"http:\/\/kfm.co.ug\/wp-content\/uploads\/2013\/03\/Fuel-pump.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5329\" alt=\"Fuel pump\" src=\"http:\/\/kfm.co.ug\/wp-content\/uploads\/2013\/03\/Fuel-pump.jpg\" width=\"263\" height=\"192\" srcset=\"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-content\/uploads\/2013\/03\/Fuel-pump.jpg 263w, https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-content\/uploads\/2013\/03\/Fuel-pump-150x109.jpg 150w, https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-content\/uploads\/2013\/03\/Fuel-pump-171x125.jpg 171w, https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-content\/uploads\/2013\/03\/Fuel-pump-91x67.jpg 91w\" sizes=\"(max-width: 263px) 100vw, 263px\" \/><\/a><\/p>\n<p>The rising fuel prices have been explained.<\/p>\n<p>The Uganda Revenue Authority has blamed the trend on the deficit recorded in international trade taxes.<\/p>\n<p>Currently a liter of petrol goes for Shs.3,900 up from 3,800, while that of diesel goes for Sh.3,600 up from 3,400 last month, a trend that the sector players have blamed on the foreign exchange rate.<\/p>\n<p>Addressing a news conference this morning, URA\u2019s spokesperson Sarah Banage said the shortage of fuel experienced during the pre and post-election period continues to impact on prices and revenues.<\/p>\n<p>She cites a deficit in international trade taxes registered during the month of February.<\/p>\n<p>Banage says reduction of import duty from petroleum led to a 90.2 % deficit on international trade taxes.<\/p>\n<p>She adds that petrol imports were at 39m liters in February 2013 compared to 41m litres in 2012.<\/p>\n<p>While diesel imports dropped from 63m liters in February 2012, down to 59m liters in February 2013.<\/p>\n<p>Banage however says the situation is getting back to normal as more fuel is expected to be brought into the country in the next few weeks.<\/p>\n<p>It is however worth noting that this does not necessarily result into outright reduction in pump prices since there are other factors that determine fuel prices both locally and internationally.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The rising fuel prices have been explained. The Uganda Revenue Authority has blamed the trend on the deficit recorded in international trade taxes. Currently a liter of petrol goes for Shs.3,900 up from 3,800, while that of diesel goes for Sh.3,600 up from 3,400 last month, a trend that the sector players have blamed on the foreign exchange rate. Addressing a news conference this morning, URA\u2019s spokesperson Sarah Banage said the shortage of fuel experienced during the pre and post-election period continues to impact on prices and revenues. She cites a deficit in international trade taxes registered during the month of February. Banage says reduction of import duty from petroleum led to a 90.2 % deficit on international trade taxes. 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