In a medium saucepan, heat the vegetable oil over medium heat. Add the chopped onion and garlic, sautéing until the onion is translucent.

Stir in the rinsed rice and cook for about 2-3 minutes, stirring frequently until the rice is lightly toasted.

Add the chopped tomato, chicken broth, salt, cumin, and chili powder (if using). Bring to a boil.

Once boiling, reduce the heat to low, cover the saucepan, and let it simmer for about 15-20 minutes, or until the rice is cooked and the liquid is absorbed.

Remove from heat and let it sit covered for an additional 5 minutes. Fluff the rice with a fork before serving.

Garnish with fresh cilantro before serving.