How Much Does the Georgian Gov't Spend on The Fuel?

13:23 Wed, 01 February

GEO

USD

$ 2.6518

EUR

€ 2.8711

GBP

£ 3.2673

RUB

₽ 0.0375

TRY

₺ 0.0014

AZN

₼ 0.0156

XRP

0.4010

07.Dec .2022 19:00

How Much Does the Georgian Gov't Spend on The Fuel?

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Author:Natia Taktakishvili

Thousands of vehicles are registered in the fleet of the Georgian Government, Ministries and Public Enterprises of Georgia. To provide fuel for this fleet, the government has signed consolidated purchase agreements with the main market players - "SOCAR"; "Wissol"; "Rompetrol" and "Gulf".

According to the contract signed by the government, the price is determined at the beginning of the month based on the average prices of the previous month. In particular, the contract is based on the average price of a ton of gasoline recorded on the PLATTS EUROPEAN MARKET during the month, as well as the GEL exchange rate, excise and VAT taxes. Only two of these multipliers change every month, namely the Platts price and the exchange rate of the GEL. In November, the Platts' price stood at USD 1008 per ton, while the value of 1 USD had been 2.73 GEL.

The sum spent by the Gov't on fuel:

• Regular - November price is GEL 2.85, December - GEL 2.88, an increase of 1%;

• Premium - November price is GEL 2.86, December - GEL 2.89, an increase of 1%;

• Super - November price is GEL 3.17, December - GEL 3.19, an increase of 1%.

As for the current retail prices, the price of regular type of fuel is GEL 2.59-3.14, premium - GEL 3.20-3.30 and Super - GEL 3.69-3.75.

Government of Georgia Fuel