The Ministry of Trade and Industry (Minicom) has announced a drop in fuel prices that take effect today, slashing the pump price by Rwf65 of petroleum products.
A statement from the ministry said the Kigali pump prices for petrol and diesel will not exceed Rwf895 per litre.
The statement, which was signed by Minister Francois Kanimba and released on Wednesday evening, stated that implementation would come into effect on Boxing Day.
The pump prices dropped to Rwf960 per litre last month after hitting the Rwf1,000 mark earlier in the year.
According to Minicom, the reduction in fuel prices is due to reduction in oil prices on the international market during the month of November.
The statement adds that the new prices will be revised at the end of next month due to the continuous decrease in oil prices on the international market.
Rwandans have appreciated the new prices, but motorists were more excited.
Corneille Kayisire, a motorist based in Kigali, applauded the development.
“It is a big decrease, the biggest I have ever experienced since I started driving. I use five litres of diesel per day and I think this will fit well with my pockets,” said Kayisire.
Another motorist, Juvens Ukundinshuti, said the new price is a good gift for Boxing Day, adding that the festive season could not have gotten any better.
Lower fuel prices will give relief to both transporters and travellers and are likely to boost economic activity.
The government has been responding to global oil price fluctuations since March when Minicom announced fuel cuts from Rwf1,030 to Rwf1,010 and later in November, from Rwf1,010 to Rwf960 per litre of petrol and diesel.