06.Jul .2022 19:00

Competition Agency To Present The Results Of The 6-Month Monitoring On The Fuel Market Next Week

Competition Agency To Present The Results Of The 6-Month Monitoring On The Fuel Market Next Week
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"The competition agency will present the results of the 6-month monitoring of the fuel market next week," Irakli Lekvinadze, chairman of the Competition Agency, told BM.GE.

According to him, the report has studied the factors affecting fuel price formation. As Lekvinadze noted, the agency will also represent the recommendations.

Irakli Lekvinadze declares, that according to the current data, the price of fuel remains high in the international market, although the strengthening of the GEL exchange rate gave local companies the opportunity to maintain prices.

"Unfortunately, the price is still high in the market, but the positive factor is that the strengthening of the local currency has allowed companies to maintain the current price. At the same time, access to cheap sources from which different types of fuel are flowing into the country has increased. These factors determine the fuel prices in the local market", said Irakli Lekvinadze.

Due to the high prices of fuel in the local market, Prime Minister of Georgia Irakli Gharibashvili instructed the competition agency to observe the situation in the local fuel market and submit a report to the government by May 15. On the other hand, the competition agency presented the analysis of four months.