Something seems unfair about fuel prices at the petrol stations. Last year when global oil prices fell by 70% (from over $100 per barrel to almost $30 per barrel), the petrol stations gave all sorts of technical excuses explaining why they barely reduced prices at the pump. Today, with every slight increase in crude oil price per barrel (from $51.9 USD per barrel in January to $53.9 USD per barrel yesterday), petrol prices at the pump are also already on a constant rise. >From Ushs 3240 per liter three weeks ago, to Ushs 3390 per litre last week, and now Ushs 3440 today. (Shell petrol station figures). I wonder what excuse the fuel companies will give the people this time. They seemed not eager enough to reduce prices when the crude oil price per barrel fell as drastically as it did last year, but now the companies seem quick to raise the petrol price at the slightest international crude oil recovery.
By Lumumba Hussein Amin 06/02/2017
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