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 June 2 at 7 pm, mean that pump prices for petrol have decreased to Rwf 1,517 per litre from Rwf 1,528 while diesel was reduced from 1,518 per litre to Rwf 1,492.

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

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

RURA has announced a slight drop in petrol and diesel prices for the third time this year, citing adjustments in the global oil market as the reason behind the decrease.

ALSO READ: Fuel prices slightly drop

In February, petrol prices at the pump decreased from Rwf1,580 per litre to Rwf1,544, while diesel prices were reduced from Rwf1,587 per litre to Rwf1,562. These adjustments follow the previous decrease in December of last year.

In April, the latest price adjustments resulted in a decrease in petrol prices to Rwf1,528 per litre, down from the previous price of Rwf1,544. Similarly, diesel prices were reduced to Rwf1,518 per litre, down from the previous price of Rwf1,562

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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.