Rwanda’s utilities regulator on Wednesday announced revised fuel prices that will apply for the next two months, citing changes in global petroleum markets.
The Rwanda Utilities Regulatory Authority, known as RURA said the new prices were released on the evening of March 4 and will take effect starting March 5.
Under the updated pricing, the cost of gasoline will remain unchanged, with the price capped at 1,989 Rwandan francs per liter.
However, the price of diesel will increase slightly. Authorities said diesel will now cost no more than 1,948 francs per liter, up from the previous price of 1,900 francs.
RURA said the revised prices reflect developments in the international petroleum market and government measures aimed at mitigating the impact of global economic fluctuations.
Earlier this week, global oil prices reportedly rose by about 10% following military strikes carried out by the United States in coordination with Israel against Iran.
Oil prices have also climbed in recent days. On Feb. 27, a barrel of crude oil traded at about $73, but has since risen to around $80.
Some economic analysts warn that prices could increase further, possibly reaching $100 per barrel if the conflict in the middle east intensifies.
