BAKU, Azerbaijan, March 11
By Tamilla Mammadova – Trend:
Oil prices continue their rise in Georgia and are likely to exceed $80 per barrel that will definitely affect the Georgian market, Trend reports via Georgian media.
As reported, the cost of the cheapest gasoline will rise to 2.50 lari (75 cents) per liter, the average price will reach 3 lari (91 cents).
All this will make price hikes of consumer goods inevitable, which depend on the cost of oil products as a source for transportation.
According to analyst Nika Shengelia, with energy prices rise, the national currency will depreciate insignificantly from the current 3.31 lari to 3.33 lari per US dollar.
“Georgia is neither an oil producer, nor an oil products manufacturer. The country is completely dependent on imports of fuel, in this situation the government does not have any leverage to restrain the rise in fuel prices,” he believes.
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