Fuel prices may increase in Georgia

Oil&Gas Materials 15 February 2021 13:05 (UTC +04:00)
Fuel prices may increase in Georgia

BAKU, Azerbaijan, Feb. 15

By Tamilla Mamedova - Trend:

The fuel price in Georgia is 15 tetri (4.57 cents) up on an average in the branded gas stations, while the growth is even more in non-branded petrol stations, said Vano Mtvralashvili, head of the Union of Oil Importers declares, Trend reports via Georgian media.

Mtvralashvili says that the fuel price might increase further in the retail chain on the local market.

"Fuel price increase in Georgia is not adequate to the international market at this stage. Consequently, price adjustments will definitely continue. The main determinant of fuel prices in the retail chain is the prices of the wholesale market, he said.

According to Mtvralashvili, the wholesale market reflects these international prices more quickly. It can be said that time coincides.

"There is a slight difference between the wholesale market and the retail prices. In fact, non-branded petrol stations operate with minimal surcharge and it will not last long. If the price rises on the wholesale market, so do the retail price. Prices on the wholesale market have increased today, which means that costs may increase in the near future, maybe from the next week," Mtvralashvili explained.

According to him, after the New Year, the price of 1 ton of gasoline on the international market has increased to $100, and diesel - to $60.


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