New prices for petroleum products will see a litre of gasoline costing 1,580 Rwf, down from 1,609 Rwf, while a litre of diesel will cost 1,587 Rwf, down from 1,607 Rwf, Rwanda Utilities Regulatory Authority (RURA) announced on October 7.

The new prices will take effect from October 8, for two months according to the communique issued by the regulator.

"Since May 2021, the government of Rwanda has sought to stabilize prices by foregoing some taxes on imports of selected petroleum products.

"Specifically for this period, intervention for the government has enabled a price decrease of Rwf 20 per litre of diesel instead of an increase of Rwf 51 per litre that would have been a result of global shocks,” the statement signed by RURA’s acting Director General, Deo Muvunyi reads.

At the beginning of the year 2022, Gasoline cost Rwf 1,225 while diesel cost Rwf 1,140. A year before, the two products cost Rwf 987 and Rwf 962 respectively.

This breakthrough comes after the Consumer Price Index report indicated that food and non-alcoholic beverages prices in urban areas increased by 29.2 per cent during the month of August compared to the same period last year.