Rwanda fuel prices go up for first time in 2020

Filling vehicle fuel tank. (Photo by: Education Images/Universal Images Group via Getty Images)
Filling vehicle fuel tank. (Photo by: Education Images/Universal Images Group via Getty Images)

Rwanda Utility Regulatory Authority (RURA) has new fuel prices, which will effective Thursday, September 3 says pump prices increase both for petrol and diesel.

This is the first time the prices for both petroleum products increase since the beginning of the year, and most especially since the outbreak of Coronavirus, or Covid-19.

Effective Thursday, September 3, a litre of petrol will cost Rwf966, up from Rwf908 while diesel prices have been increased to Rwf943 from Rwf883.

The regulator announced the new tariff in a statement released Wednesday evening.

They did not disclose the reasons behind the increment, but past local fluctuations had been attributed to the price volatility on the international market.

Fuel prices have been fluctuating so much lately. In May, the cost of a litre of petrol reduced from Rwf1,088 in March to Rwf965. At the same time, diesel had dropped from Rwf1,073 to Rwf925.

In March, oil prices slumped on the international market following an apparent crude oil war between major oil exporters including Saudi Arabia and Russia.

At the time when coronavirus was forcing countries into total lockdowns, member states of the Organisation of Petroleum Exporting Countries failed to reach a consensus on scaling down the production of petroleum, owing to the slump in demand.

The conflict triggered a record oil price slump which had not been observed in the last 30 years.