Newly announced prices for petroleum products will see a litre of gasoline costing Rwf1,528, down from 1,544, the Rwanda Utilities Regulatory Authority (RURA) announced on April 2.

It is also noted that a litre of diesel will cost Rwf1,518, down from Rwf1,562.

The new prices take effect from 7 pm on April 3, and will be valid for two months.

The reason for the decrease in prices, according to RURA, is due to the adjustments in the global oil market.

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

In February, RURA announced a slight drop in prices for petrol and diesel, citing the adjustments in the global oil market. At the time, pump prices for petrol decreased to Rwf1,544 per litre from Rwf1,580 while diesel was reduced from Rwf1,587 per litre to Rwf1,562.

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The fuel prices are reviewed every two months. The new prices will be announced in June.

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In May 2021, the government introduced subsidies on fuel costs noting 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 pandemic related lockdowns and travel restrictions.