Let me add to Gregory's explanation...you can save on cpu cycles by making one sql query to update all rows. Instead of a loop on the sql queries you can loop on the array_of_uids variable and create a comma delimited string out of them e.g. in PHP you can easily use the implode function:

$comma_separated = implode(",", $array_of_uids);
$sql = "UPDATE products SET product_price = '7.6' WHERE id IN ($comma_separated)";

HTH