The world market price for crude oil is currently $ 64 per barrel. The cost of crude oil has increased by 7.9% in the last month, while in the six months, the price increase is 55%.
Along with the increase in oil prices globally, fuel costs in the Georgian market are also increasing. With the rise in oil prices on the world market, the increase in fuel prices in the local market is also caused by the depreciation of the GEL exchange rate.
Currently, the cost of one liter of regular brand fuel in the consumer network is almost 2.80 GEL. It should be noted that the cost of fuel in the Georgian market has increased by 29.8% in the last 6 months.
The cost of fuel in Georgia for the last two years was the minimum in June 2020, when regular fuel cost 1.79 GEL. Such a low price was due to the record low oil prices during this period, as the price of a barrel of oil was up to $35. In addition, the value of one dollar during this period was 3.06 GEL, which in turn affected the price of fuel.
