Georgia sees increase in fuel prices
BAKU, Azerbaijan, Sept. 29
By Tamilla Mammadova – Trend:
According to Vano Mtvralashvili, Chairperson of Georgian Union of Oil Products Importers, fuel prices increased by 5-10 tetri (1.50-3.1 cents) in the country, which happened due to the lari depreciation, Trend reports via Georgian media.
"The price of fuel directly depends on two main factors, the price on the international market and the lari exchange rate. Clearly, no company will benefit from increased prices, as consumption has declined due to COVID-19, and the companies want the demand to increase," Mtvralashvili explains.
As a result of trading on September 28, 2020, the oil price on the world's leading oil exchanges in London and New York increased.
The price of Brent crude oil at the Inter Continental Exchange Futures Europe (ICE Futures Europe) in London was $42.43 (+ 0.51) per barrel.
On the York Mercantile Exchange (NYMEX) in New York - the price of Light Sweet Crude Oil was $40.60 (+ 0.35) per barrel.
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