Fuel prices up

Fuel prices have started to rise again, following the rise in international prices.A statement issued from the Ministry of Trade and Industry yesterday said pump prices for petrol from today, in Kigali, should not exceed Rwf1,050 per litre while diesel must not exceed Rwf 1,050 per litre.

Saturday, October 06, 2012

Fuel prices have started to rise again, following the rise in international prices.A statement issued from the Ministry of Trade and Industry yesterday said pump prices for petrol from today, in Kigali, should not exceed Rwf1,050 per litre while diesel must not exceed Rwf 1,050 per litre.Until yesterday, a litre of both petrol and diesel cost Rwf970 at the different filling stations."This increase in petrol and diesel fuel prices is mainly due to the high oil prices escalation on the international market, where petroleum products prices have increased on average by10% since August 2012,”said the statement.Prices on the global market rose by 10 percent to USD $96 per barrel, up from 87 per barrel in December 2010,as a result of global spillovers caused mainly by increase in fuel prices.Government was then forced to increase prices in January 2011 from Rwf 952 to Rwf 965 with another  increment in April, where pump prices rose to Rwf1060,in effort to scale down the effects.