The utilities regulator RURA, has reviewed fuel prices upward citing a rise in prices of petroleum products on the international market
In a communiqué on Tuesday, Rwanda Utilities Regulatory Authority (RURA) said that effective Wednesday– January 10th, fuel pump prices will stand at Rwf 1,042 per litre for petrol from Rwf1, 031 per litre.
This represents an increase of Rwf 11 per litre in November 2017.
Diesel made the highest increase with Rwf 1005 per litre from Rwf 944 per litre in November 2017 which makes a difference of Rwf61 per litre.
This could be the highest increase in price of diesel in recent years.
The fuel price increase comes a few days after an upsurge in vehicle insurance premiums.
Last week, local insurance companies increased motor insurance premiums by up to 73 % effective January 1.
The mandatory third-party insurance policy has increased by 40 to 73%, while the comprehensive package was reviewed upward from 3.5% of the value of the vehicle to 4.5%.
Insurance companies justified the stance saying that a study done in 2013 was showed that huge losses are looming in the sector if premiums are not reviewed upward.