In 2021, 1,453,707 thousand liters of petrol and diesel were imported to the country, 7.2% more than the same period in 2020. The highest volume of fuel imports came from Turkmenistan - 22.1%, followed by the Russian Federation - 19.2% and Romania -18.2%, - an interim report of the Georgian National Competition Agency reads.
The Agency said the diesel fuel accounted for 45.7% of total imports and petrol for 54.3%. Regular type fuel is the most in-demand gasoline in the retail market, with 64% in petrol-type and 34.9% for total imports.
In the process of analyzing the factors affecting the retail selling price, the change in platts, the cost of the imported auto fuel, and the GEL exchange rate are important. From June 2021, the national currency remained more or less stable against the US dollar, although this was not enough to fully compensate the increased price of the plats.
From October 2021 to January 2022, 55-60% of the retail price was the imported fuel’s customs value, which includes all costs related to the purchase of fuel outside the country and transportation to the territory of Georgia. VAT (18% of the retail price) and excise tax (1 liter - 37 tetri) make 27-28% of the retail price. Considering the data obtained, the operating costs for 1 liter of fuel for large companies are on average 25 tetri, which includes the cost of delivery of fuel to its retail customers from the moment of import into the country. Accordingly, the analysis conducted during the period under review, the retail price increase on regular type fuel was 5-10%.
The report also found the cost of fuel imported from Russia was on average GEL0.3-0.6 lower compared to that imported from European countries, noting in the case of large companies on the retail market the latter was available at an “identical price” to European-originated fuel.
