Fuel prices drop

Fuel prices will today fall as part of a previously announced government plan of a rollback on both petrol and diesel price hikes. Pump prices have been slashed by Rwf60 per litre, effective today, January, 16, the Ministry of Trade and Industry announced last evening.

Fuel prices will today fall as part of a previously announced government plan of a rollback on both petrol and diesel price hikes.

Pump prices have been slashed by Rwf60 per litre, effective today, January, 16, the Ministry of Trade and Industry announced last evening.

In a statement, the ministry said the price of petrol in Kigali must not exceed Rwf940 per litre, down from Rwf1000, with the price of diesel reducing by the same fraction – also down to Rwf940.

“The reduction was made possible mainly due to the government’s decision to, once again, reduce taxes on fuel products with effect from January 16, 2012,” the communiqué read in part. It also pointed at the “slight reduction in fuel prices on the international market.”

Unveiling the 2011/2012 Budget, the Minister of Finance, John Rwangombwa had announced plans to cut fuel taxes this fiscal year, to help ease inflationary pressures.

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