Rwanda Utilities Regulatory Authority (RURA) has assumed the responsibility to regulate petroleum sector in the country as part of government’s plan to separate policy institutions from regulatory work, AllAfrica reported.
The development comes in line with the recent Prime Minister’s order and in accordance with the Downstream Petroleum Policy Law, which have determined that another regulatory body will take over from the Ministry of Trade in order to ensure a more efficient oversight of petroleum and petroleum products trade.
The Rwandan Minister for Trade and Industry, François Kanimba, explained that petroleum traders should fulfill a number of requirements for them to acquire a license to the business as the law requires. He further noted that the ministry does not have enough workers to assume all the petroleum regulation responsibilities, adding that the aspects expected to improve under the new regulation by RURA, include quality of fuel, calibration, and the setting of prices, The New Times wrote.
In related news, the Rwandan government has opted for a strategic fuel reserve target in line with its seven-year plan that runs to 2020, to ensure that the country has enough fuel to sustain its economy for at least three months without serious disruption.