11:23
rwandaexpress
There has been an increment on the current fuel prices again. Citing arise on the international petroleum products, the Rwandan Government announced an increase of Rfr60 per litter from Rfr940 per litter.
The ministry of Trade and industry instructed that with effect from Monday 12th March 2012; fuel prices should change because the cause is unavoidable. The statement reads that a barrel of crude oil on the international markets was increased by 17 percent since January 2012.
A barrel of crude oil on the global market increased by 10% to USD $96 each barrel in December 2010 caused by global spill over due to an increase in fuel prices.
A barrel of crude oil on the global market increased by 10% to USD $96 each barrel in December 2010 caused by global spill over due to an increase in fuel prices.
In a move to overcome the effects that might come with an increase in fuel prices, the government pushed up the fuel prices in January 2011 from Rfr952 to Rfr965 and latter in April to Rwf1060.
In June 2011 is when the fuel prices were lowered to Rfr1, 025 and then again slashed to Rwf940 this year which became a relief for many Rwandans as the sky rocketing inflation was reduced and maintained to single digits unlike other neighbouring countries in the region.
In June 2011 is when the fuel prices were lowered to Rfr1, 025 and then again slashed to Rwf940 this year which became a relief for many Rwandans as the sky rocketing inflation was reduced and maintained to single digits unlike other neighbouring countries in the region.
The ministry of trade and industry have warned fuel dealers against disrespecting the new set fuel prices. An increase in fuel prices may lead to increased tax fares and increased commodity prices.
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