Fuel prices at the pump in Kigali are expected to drop from tomorrow Wednesday March 04, 2020, according to a statement from the Rwanda Utilities and Regulatory Authority (RURA).
The price for petrol will drop from Rwf.1,091 per liter to Rwf.1,088 per liter while diesel will drop by Rwf.11 from Rwf.1,084 to Rwf.1,073 per liter.
Announcing the fall in fuel prices, RURA said the changes are based on drop of prices on the world market.
This may also be an indirect effect of the coronavirus affecting fuel consumption in China that has an impact on the whole world. Because of the severe security restrictions imposed in China, intended to limit the spread of the coronavirus, oil consumption in the country has dropped sharply.
China is the biggest consumer of fuel. It is the leading importer of petroleum since 2016, with 15% of world demand. And since the measures decreed by the Chinese authorities to fight against the spread of the virus, the demand for crude oil in the country fell by 20%, according to Bloomberg. Air traffic, for example, suffers from travel restrictions, closed factories and businesses, and cities in containment for several weeks, causing fuel consumption to drop as China is poised to become the largest air market in the world.