Baku, Azerbaijan, August 1
By Tamilla Mammadova – Trend:
Global prices for oil and the national currency rate are two major factors affecting petroleum product prices in the country, Trend reports referring to Georgian Oil Products Importers Union.
Given that the oil prices remain stable in the global market, the devaluation of the national currency in the last few days remains the only risk factor, Union said. According to the source, if the national currency does not strengthen, fuel prices can grow by 5-6 tetri per liter.
“If in two weeks or a month the national currency keeps falling, we’ll have to buy the new batch of the fuel at a new rate and sell it at a higher price,” Zaal Yakobidze, CEO of Senta filling stations network, said.
In his words, the rate of the fuel price growth can’t be predicted as it will depend on the lari devaluation.
According to Vasil Khorava, Director General of Wissol Petroleum Georgia, the company tries to maintain the price at its current level, but if devaluation continues, then growth is inevitable.