BAKU, Azerbaijan, April 6. The peak of increased fuel prices in Georgia has passed, and much cheaper fuel will flow in the country very soon, Vice Prime Minister, Minister of Economy and Sustainable Development, Levan Davitashvili said, Trend reports via Georgian media.
“The newly signed contracts will ensure cheaper fuel inflow in the country very soon,” Davitashvili said.
According to the minister, the government is in constant talks with local fuel importers on making sure that no one would take advantage of the situation.
Earlier, the minister noted that the government is also working on ensuring the mechanisms to avoid further price increases. Although, he noted that the government does not consider the abolition of taxes on fuel imports.
As the Minister of Finance of Georgia Lasha Khutsishvili said, the revenues from fuel excise and VAT have already reached 1.3 billion Georgian lari ($405.2 million), which is about 8-9 percent of the total budget revenues.
Georgia already saw an increase in prices for almost all types of fuel in January 2022.
According to the Union of Petroleum Products Importers of Georgia, an increase of 22 percent has already been observed since the beginning of the year, and fuel prices may increase to a total of 25 tetri (8 cents) in the long term.
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