Location: 7th Street Industrial Area Plot 9,11 Postal Address: P.O. Box 7082 Kampala, Uganda  Vivo Energy Uganda managing director Hans Paulsen: Fuel pump rates drop as global oil prices falter Fuel pump prices have dropped, bringing a sigh of relief among customers who hope this will eventually bring down the cost of doing business. Experts have attributed the trend in the falling prices to, largely, the strengthening of the Shilling against the dollar, a stance exhibited and the falling global oil prices which have reached $36 (Shs120,000) per barrel.Fuel stations in and around Kampala, are quoting a litre of petrol at Shs3,650 down from Shs3,800, while diesel now costs Shs3,000 down from Shs3,250. Kerosene, whose prices are usually stable, went down to Shs2,500 from Shs2,750.In an interview with Daily Monitor, Vivo Energy Uganda managing director Hans Paulsen said: “The drop is largely attributed to the strengthening of the Shilling against the dollar, a stance exhibited and the falling global oil prices.” Read more ▪ Vivo energy explains fuel pricing The drop in pump prices of petrol and diesel by as much sh720 and sh1250 respectively around the country has excited Ugandans but many are skeptic al as to why the drop is less than the reduction in global crude oil prices. Petrol prices are down to between sh3,230 to sh3,500 per litre around Kampala. Diesel is selling at between sh2,400 to sh2,600 a litre down from sh3,650 in the same period. On the other hand, international brent crude oil averaged $54 (sh162,000) per barrel. One barrel of oil has 159 litres of fuel, which translates into sh1,019 per litre of crude. Hans Paulsen, the Vivo Energy Uganda managing director explains that while there is a correlation between the price of crude and processed fuel at the pump, there are additional costs along the distribution chain. Read more ▪  Vivo Energy: Falling global oil prices draw mixed reactions from local fuel dealers The decline of the global oil prices to a low of about $83 (about Shs 223,270) a barrel from $115 (about Shs 309,350) has been received with mixed reactions by the local fuel dealers. Vivo Energy Uganda, which sells and distributes Shell branded fuels in the country, reacted with an average reduction of Shs100 on the prices of diesel and petrol, according to Mr Hans Paulsen, the company managing director. Mr Paulsen said Vivo Enerygy Uganda’s decision was informed by the tumbling prices of Brent crude.He explained: “There are several factors we consider in setting pump prices at Shell Service stations. The world oil prices (Platts) are one key determinant.” Read more ▪ Vivo unveils Shs5b fuel reserves Ministry of Energy officials have said they learnt lessons from the recent political and economic upheavals in neighbouring Kenya and are supporting measures to boost the country’s fuel reserves. The head of Petroleum Quality Assurance in the ministry, Mr Spero Byokunda, said they have finished refurbishing the Nakasongola fuel reserves and distributors can now take over their usage.Speaking at the commissioning of the 10 million-litre capacity tanks for Vivo Energy in Kampala, Mr Byokunda, revealed that they have commissioned the process for a contractor to revamp the Nakasongola reserves which have remained unutilised for a long time.“The fuel market is growing at 7 per cent compared to three years ago, and the importance of petrol has doubled requiring more storage space,” Mr Byokunda said. Read more ▪ Vivo to launch mobile fuel-testing lab Uganda’s petroleum industry has suffered from adulterated fuels mainly from unscrupulous dealers mixing mainly kerosene with diesel and petrol to maximize gains.These adulterated products not only cause damage to the vehicles’ engine but also discourage fair competition among the operating oil companies.A statement from Vivo Energy indicates that the company has obtained a mobile fuel-testing laboratory that is equipped with tools to conduct onsite preliminary tests, randomly, to detect any tampering that could occur at our Shell Fuel Stations.Hans Paulsen, Vivo Energy Uganda's managing director said: “it help guarantee the quality of the products that eventually goes into customers’ tanks.”Dr. Ben Manyindo, the Executive Director of National Bureau of Standards, praised Vivo Energy for its proactive approach to quality assurance.“It greatly enhances the work that Vivo Energy is already doing and provides additional support to the work UNBS is also doing with our mobile vans. Vivo Energy works in partnership with us to offer support. Read more ▪ |
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