Oil Product Prices Resume Rise in Georgia

Oil Product Prices Resume Rise in Georgia

access_time2020-07-07 17:54:05

In early June Georgian filling station chains began to increase oil product prices due to rising global oil prices.

Small companies that buy fuel in smaller quantities were the first who started  increasing prices as they  are more dependent on price fluctuations. At the same time, large branded chains having more significant reserves, can keep the current price level for some time.

 According to Chairman  of the Union of Oil Products Importers Vano Mtvralashvili, in March, due to the international  oil prices collapse, fuel prices in Georgia dropped significantly  by about GEL 70-80 per liter.

After the world economy gradually started to recover and oil prices began to rise, small filling station chains increased prices by an average of 20-25 tetri per liter.

“During the pandemic, oil prices fell to historic lows, but the market has been gradually  recovering since  May 20  that caused  price hikes in Georgia. So far, only in small networks, but over time the trend will affect large ones, ” Vano Mtvralashvili notes.


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