In two weeks, the price of 95 octane fuel in Europe has increased by 0.02 and reached 1.53 euros per liter, the average price of diesel fuel has increased by 0.03 to 1.45 euros per liter.
As a result of the August 7 trading, Brent oil on Inter Continental Exchange Futures Europe (ICE Futures Europe) in London amounted to 85.34 (-0.90) dollars/barrel. Light Sweet oil at the York Mercantile Exchange (NYMEX) was set at 81.94 (-0.88) dollars/barrel.
Vice-president of the Economic Policy Research Center, financier Nika Shengelia, predicts that fuel prices will increase by about 10-15 tetris in August.
"Oil prices have soared recently. The oil price forecasts published in November 2022 are coming true, in 2023 oil average price will be above $75 per barrel. Everyone was skeptical in this regard and expected prices to drop.
Fuel prices in Georgia are likely to rise again. Price hikes of "white petroleum products" in Georgia are not caused by the increase in oil prices. Today, fuel imports from Russia accounts for 81% of the total imports. The reason for an increase in fuel prices should be found in the cartel deals of importing companies.
According to our forecast, fuel prices will increase by 10-15 tetris in August," says Nika Shengelia.
We predict that fuel prices will increase by GEL 0,10-0,15 in August," says Nika Shengelia.
As a reminder, A-92 gasoline at branded gas stations in Georgia costs 0.906 euros, A-95 gasoline - 0.99 euros, A-98 gasoline - 1.22 euros, diesel fuel - 1.06 euros.
