The retail price for gasoline decreases by RWF 101, to retail at RWF 1,663 per litre for the next two months, while diesel will retail at RWF 1,652, down from RWF 1,684.
The new pump prices will take effect at 9:00 pm on Wednesday.
Global market dynamics
"These adjustments are based on recent fluctuations in international petroleum product prices," RURA Director General Rugigana Evariste explained.
New fuel pump prices for the next two months, effective from 05 June 2024, at 9:00PM. pic.twitter.com/jlTHENxOro
— Rwanda Utilities Regulatory Authority - RURA (@RURA_RWANDA) June 5, 2024
Before the last review in April, which saw the retail price of fuel revised upwards, gasoline was priced at RWF 1,637 per litre, and diesel at RWF 1,632 per litre.
Brent crude oil averaged $90 per barrel in April with the conflict between Ukraine and Russia exacerbating the oil market’s instability.
The price of Brent oil per barrel has been fluctuating ever since to retail at $77.1 on Tuesday, May 4, 2024. Further, the price of West Texas Intermediate (WTI) Crude Oil plummeted by 1.5 per cent to retail at $73, down from the $77.3 on Monday.
Last month, the price of Brent oil was around $85 per barrel, while WTI oil prices hit $81 in May.
YOUR OPINION ABOUT THIS ARTICLE
RULES AND REGULATIONS
Do not post comments that are defamatory, divisive and blasphemous.If you wish to receive a quick response to your opinion/comments, please provide your email address in the space provided. Your comments will appear after moderation from IGIHE.com.
In case the above regulations are not observed, your comments might not appear or will be deleted. Thank you!