These new prices were announced by RURA on Thursday, April 16, and took into effect on April 17, at 6:00 a.m.

Prices were last adjusted on April 3. At that time, petrol rose to Rwf2,303 (an increase of Rwf314), while diesel reached Rwf2,205 (an increase of Rwf257). Before that, prices had been adjusted on March 4, when petrol was Rwf1,989 and diesel was Rwf1,948.

The statement released on April 16, indicates that these prices were set based on fluctuations in the international petroleum market and measures taken by the Government of Rwanda to mitigate the impact of rising global costs.

"Due to the measures taken to counter the impact of these changes, the price of diesel has remained unchanged in order to continue supporting public transport, the movement of goods, and general economic activities," stated in the statement.

RURA advised Rwandans to plan their travels carefully, prioritize the use of public transport or carpooling, and avoid unnecessary trips to reduce fuel consumption.

The regulatory body stated it would continue to closely monitor changes in international and regional petroleum markets to ensure quality service delivery and the steady supply of petroleum products throughout the country.

The global context

The ongoing war involving the United States, Israel, and Iran, which has lasted a month and a half, continues to drive fuel prices up. This is largely because Iran closed the Strait of Hormuz, a vital corridor through which 20 per cent of the world's daily petroleum supply passes.

In recent days, there was a brief sense of relief when Iran and the U.S. agreed to a temporary truce, leading many to hope for normalization. However, negotiations that lasted over 20 hours ultimately reached a deadlock.

Following the failure of these countries to reach a ceasefire agreement, oil prices immediately surged past $100. When energy markets reopened in Asia on April 13, the price of Brent crude oil rose by 8.5 per cent to $102.37, while West Texas Intermediate (WTI) rose by 9 per to $105.34.