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