Rwanda Utilities Regulatory Authority (RURA) yesterday announced an increase in oil prices, which saw pump price shoot to Rwf948 per litre and Rwf914 for petrol and diesel respectively.
This represents an increase of Rwf60 for each litre of petrol and Rwf50 for diesel going by the prevailing prices that had been set at the beginning of September.
The new prices take effect today, Thursday, November 3, according to a statement signed by Patrick Nyirishema, the RURA Director General.
In the statement, the regulator assured commuters in public transport that rise in fuel prices will not influence public transport fares.
The current pump prices were set on September 2, 2016, and in the statement released at the time, RURA had said it would make review them by the end of October and that the new prices would reflect the global market for petroleum products.
Before that date, the pump price for both petrol and diesel was at Rwf948.
Between January and May 2016, international oil prices increased by 35 percent.
In recent times, the highest pump price in Rwanda was registered in March 2014, when it reached an all time high at Rwf1,030 a litre for both petrol and diesel.Follow https://twitter.com/EmNtirenganya