Rwanda Utilities Regulatory Authority (RURA) has announced a hike in fuel prices for the next period of two months, effective from 4 October 2023.
The government utility announced that the maximum retail price for Gasoline (Premium Motor Spirit) is now set at Rwf1,822 a litre, from Rwf1,639, from the prices announced in August -an increase of Rwf183 per litre, in what is the highest increase this year.
The maximum retail price for Diesel (Automotive Gas Oil) is at Rwf1,662 from a previous price of Rwf1,492, reflecting an increase of Rwf170 per litre consumed.
“These revisions are based primarily on price changes of petroleum products registered on the international market,” an announcement signed by Evariste Rugigana, Director General, RURA, reads.
In August, the Government said fuel pump prices were revised in line with a general increase in petroleum products prices registered on the international market. Post-COVID-19, the state said it had subsidized fuel prices to cushion the economy from the impact of the pandemic and the Russia-Ukraine conflict which disrupted supply chains.
The increase is likely to have implications on food and commodity prices.