Local public transporters have started feeling the pinch of an increase in fuel prices.
Local public transporters have started feeling the pinch of an increase in fuel prices.
The prices of petroleum products have increased significantly with Gasoline prices rising by 30 per cent, while oil prices have risen by 26 per cent in the international market.
Regulatory Utility Regulation Authority (Rura) recently increased the fuel and oil prices by 10 per cent, the changes in the local market that have been largely attributed to the sharp rise of the oil prices on the international market.
According to the Rura, the prices that have started being observed since March 5, fuel price increased to Rwf1,088 from Rwf987 that it has been costing since January 7 while the oil price jumped to the current Rwf1054 from Rwf962. But the transporters say the recent increment is increasing the cost of doing business even when they are yet to recover from the losses accumulated during the coronavirus pandemic.
“One of the burdening expenses we have in transport is fuel, so the more the fuel prices continue to increase, the more our expenses become heavier because our fleets have to do more rounds to ccommodate all the travellers, which increases as well our expenses,” Marie Josee Mukanyamwasa, the managing director of Kigali Bus Services told Rwanda Today.
Emmanuel Bugingo, a taxi-operator in Kigali told Rwanda Today the fuel price increments are a burden because they are already paying more on transport insurance. “Having the fuel prices going up just after having the insurance premiums increase among other charges, yet working hours and business have gone down, it’s not of course good for us and business,” Mr Bugingo said.