The government kept pump prices stable for two more months.
Rwanda Utilities Regulatory Authority (RURA) on Sunday announced that current pump prices will remain unchanged after revisions based on adjustments in the petroleum products on the international market.
The regulator said fuel prices will remain unchanged despite a hike in the price of petroleum products at the global level, with the government yet again putting in an incentive to cushion the economy from inflation effects.
“For the next period of two months, from 5 December 2022, fuel pump prices are as follows: Maximum retail price for Gasoline (Premium Motor Spirit) remains at 1,580 Frw/L while maximum retail price for Diesel (Automotive Gas Oil) remains at 1,587 Frw/L,” RURA said in an announced by the Director General Patrick Emile Baganizi.
“Although the global prices for fuel have increased, the Government of Rwanda has maintained current fuel pump prices applicable in Kigali, to mitigate the eventual adverse impact on inflation. Since May 2021, the Government has stabilized fuel pump prices by foregoing some taxes on imports of selected petroleum products,” the regulator added.
The current prices were announced in October when the government reduced the price of Petrol from 1,609 to 1,580 and the price of diesel from 1,607 to 1,587.
At the time, the Minister of Infrastructure, Dr. Erneste Nsabimana said that despite the effects of the Russia-Ukraine conflict and other global factors that disrupted the market leading to an increase in prices at the international market, the government had taken measures to absorb the impact through different subsidies.
Every two months, the government revises fuel prices. Dr. Nsabimana said that fuel prices could have considerably increased if the government had not put in any incentives over the past two years or so to ensure that the changes don’t have a bearing on the cost of living of the citizens.