Fuel Prices Rise in Rwanda

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Fuel prices are seen by many as a predictor of the economic pulse and upward movements in pump prices often result in a general rise in prices.

Rwandans should prepare to pay higher prices for goods and services in the country following an increase in the cost of fuel by petroleum companies

The increase that was announced by Rwanda Utilities Regulatory Authority (RURA) saw pump prices climb up to Rwf970 per litre and Rwf932 for petrol and diesel respectively.

The new prices take effect today January 4, according to a statement from RURA.

The new prices represent an increase of Rwf22 for each litre of petrol and Rwf18 for diesel going by the prevailing prices that had been set at the beginning of November.

RURA attributed the increased prices to the prevailing cost of petroleum products on the international market.

Subsequent to the increase in the prices, the regulator said that this will not affect the prices of public transport, saying the current tariffs still stand.

Between January and May 2016, international oil prices increased by 35 percent and the prices have gradually been on an upward trend.

In recent times, the highest pump price in Rwanda was last registered in March 2014, when it reached an all time high at Rwf1,030 a litre for both petrol and diesel

 

 

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