Rwanda Utilities Regulatory Authority (RURA) Sunday, May 03 announced a significant fall in fuel prices for both petrol and diesel.

In a statement, the regulator said that effective Monday, May 04, a litre of petrol will cost Rwf965 down from Rwf1,088. Diesel will now cost Rwf 925 down from Rwf1,073. 

The regulatory body attributed the latest drop in prices to the cost of petroleum products on the international market.

Fuel prices have been fluctuating lately. 

The latest change was in March this year, where the cost of a litre of petrol reduced from Rwf1,091 to Rwf1,088. 

At the same time, the price of diesel reduced from Rwf1,084 to Rwf1,073.

On the international market, oil prices slumped in March after an apparent price war broke out between Saudi Arabia and Russia.

According to reports, the price war kicked off when Saudi Arabia failed to convince Russia to back production cuts that had been agreed with the other members of the Opec oil producers' group.