BAKU, Azerbaijan, June 4
By Tamilla Mammadova – Trend:
Fuel price hits record high for the last 3 weeks, which ranges within 2.85-3.15 lari (89-98 cents) on various branded petrol stations, Trend reports via Georgian media.
Local companies explain fuel price increase by the prices on the international markets and lari depreciation against USD.
However, lari has significantly strengthened from May 14, which prompts the public expectations that this should have a positive impact on fuel prices.
Chairman of the Association of Oil Product Importers and Distributors Giorgi Kotrikadze explains that the population must not have expectation of fuel price decrease at present, because prices are still rising on the international markets and stabilization of the lari at this stage only helps to maintain the existing rates.
"Today, the price of a barrel oil totals to $71, which actually determines the current prices. As for the strengthening of the lari exchange rate, it helps to ensure that the price does not increase. I do not see a resource to reduce prices if downward trend is not noted on the international markets," said Kotrikadze.
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