The Rwanda Utilities Regulatory Authority (RURA) has announced a slight drop in prices for petrol and diesel, citing the adjustments in the global oil market.

The new prices, which will take effect on February 2, means that pump prices for petrol has decreased to Rwf 1,544 per litre from Rwf 1,580 while diesel was reduced from 1,587 per litre to Rwf 1,562.

ALSO READ: Fuel, diesel prices remain unchanged

"Fuel pump prices are revised downwards based on the adjustments at the international market of petroleum products,” read part of the RURA announcement.

Normally, the prices are reviewed every two months which means that the new one will be revealed in April.

As the covid-19 pandemic effect, fuel prices have been raised due to the volatility in the global oil market.

ALSO READ: How Govt fuel subsidies are curbing inflation

However, in May 2021 government introduced subsidies on fuel costs saying that it will go a long way to stabilize the cost of logistics and consequently the cost of goods.

Subsidies were announced when global oil prices began going up after a sharp decline occasioned by reduced demand as a result of the Covid-19 related lockdowns and travel restrictions.