Fuel prices in Georgia revealed amid fluctuating oil prices

Oil&Gas Materials 26 August 2020 18:07 (UTC +04:00)
Fuel prices in Georgia revealed amid fluctuating oil prices

BAKU, Azerbaijan, August 26

By Tamilla Mammadova – Trend:

The price of oil in Georgia has fluctuated unevenly this year, Trend reports via the Georgian Union of Petroleum Product Importers.

High prices at the beginning of the year were replaced by record low prices in recent years, which was associated with the COVID-19 pandemic. During the pandemic, world daily oil consumption, according to various competent estimates, fell by an average of 12-14 million barrels per day.

According to the head of the Union of Petroleum Products Importers of Georgia Vano Mtvralashvili, the fact that OPEC + made an unprecedented decision to reduce oil production by the parties to the agreement (from May by 9.7 million barrels per day) and at the same time began the process of restoring the world economy - lifting the general quarantine in countries, the restoration of air, land transport links, the opening of various sectors of the economy, led to an increase in oil demand.

Today, the average retail prices for fuel at branded filling stations in the retail network of Georgia are: regular gasoline - 1.99-2.07 lari (65-67 cents) / liter, premium gasoline - 2.06-2.17 (67-71 cents) lari / liter, Euro diesel - 2.09. - 2.19 lari (68-71 cents) / liter, diesel - 2.02-2.12 lari (66-69 cents) / liter.


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