The Rwanda Utilities Regulatory Authority (RURA) has raised the prices for petrol and diesel, citing the volatility in the global oil market.

Under the new prices, which will take effect on Jan. 7, mean that the pump for petrol has increased to Rwf987 per litre from 976. Diesel was increased from 923 per litre to Rwf962.

RURA said that the prices will be reviewed after two months.

Dr Erneste Nsabimana, the Director-General of RURA; "European countries selling these products have been greatly affected by Covid-19 pandemic, so they tend to hike prices in order to recover.”

Thus, he added, a combination of increased prices of fuel on the international market and the high cost associated with transporting the product to Rwanda prompted the regulator to increase prices

Internationally, oil prices have been fluctuating since the Covid-19 outbreak, complicating the ability to predict the global market.