12.Aug .2022 10:00

Georgian Government Expects fuel Price drop by the end of month

Georgian Government Expects fuel Price drop by the end of month
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The government of Georgia expects that by the end of this month, fuel prices at filling stations will drop significantly, Deputy Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili said. The corresponding statement was issued by the ministry following the meeting of the minister with the major retailers of gasoline in the country.

Finance Minister Lasha Khutsishvili and head of the National Competition Agency Irakli Lekvinadze also attended the meeting, according to the statement. The sides at the meeting discussed the current situation in the consumer market of petroleum products and forecasts for the fuel market, competition issues and opportunities to minimize margins.

According to Deputy Prime Minister, issues of competition in the fuel market, cheap sources of fuel supply that can contribute to the reduction of current prices on filling stations have been discussed with the private sector. In his words, the government together with the private sector is actively working and discussing maximum opportunities regarding price reduction.

At the meeting, the head of the Competition Agency, Irakli Lekvinadze, presented the results of monitoring the oil products market. As he mentioned, it is important to have more competition in the fuel market and discussions will continue with companies on how this can be achieved and how large companies can offer fuel to consumers at a much more affordable price.

The Ministry notes that the meetings of Levan Davitashvili and Lasha Khutsishvili with representatives of oil companies regarding fuel prices are held on behalf of Georgian Prime Minister Irakli Garibashvili.