The prices will go into effect for two months from 8th August 2022.
The rise in fuel prices saw the cost of diesel increasing by Rwf104 from Rwf1503 while the price of petrol rose by Rwf149 from Rwf1460.
Speaking to RTV on Sunday, the Minister of Infrastructure, Dr. Ernest Nsabimana revealed that the prices would have gone much higher hadn’t it been the government’s subsidy program.
He said that government injected almost Rwf10 billion to subsidize prices.
Hadn’t it been the subsidy, the price of diesel would be set at Rwf1757, an increase by Rwf254 while a liter of petrol would be set at Rwf1767, an increase by Rwf307.
Minister Nsabimana said that fuel prices continued to rise owing to effects of the war between Russia and Ukraine.
At the onset of the war in February this year, a liter of diesel was set at US$0.57 and increased to US$0.97 in July.
Dr. Nsabimana said that the increase in price in countries with natural reserves went in parallel with the cost of transport and insurance but expressed optimism that they might reduce gradually.
He revealed that the rise will not affect the price of public transport.