Fuel prices to be revised in Georgia amid global trends

Fuel prices to be revised in Georgia amid global trends

access_time2020-08-10 13:02:18

The international oil prices have been rising  since July 29 that will definitely  affect the Georgian market.

 

According to Soso Pkhakadze, Wissol Group President, fuel prices in the country are planned to be revised in the near future.

 

“We are selling the reserves, which were purchased at relatively low prices and are not going to increase prices so far. But soon we will buy fuel  at higher prices, and this will be reflected in the domestic market. During the pandemic, oil prices dropped dramatically, and we purchased a large stock of oil products at very low prices. Today oil costs more than $ 40 per barrel on the international market and the current prices at the filling stations don’t reflect the reality. While having stocks we are trying to keep prices at the same level, ”he explains.

 


Pkhakadze  believes if the current global trend continues and prices do not resume falling, prices will rise by about 10 tetri per liter.

 

Today, the most popular Euro Regular gasoline costs an average of GEL 1.82  in Georgia while a month ago its price was GEL 1.74.

 

Last month  oil products have risen in price by 4.5%.


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