Fuel price is 12-15 tetri up in Georgia since January and it will increase by another 10-12 tetri in the next two weeks. According to Platts, diesel cost increased by 90 USD in a month and a half. 1 t of fuel costs up to 510 USD. Gasoline rose by 120 USD to 572 USD.
Prices are already increased by 10-13 tetri in the chain of Wissol Petroleum Georgia. As the head of the company explains, no one expected prices rise on this scale on the international markets.
According to Vasil Khorava, cost of 1-liter fuel has increased by 25 tetri from January, however, if the increase had not been jumpy, the company would have gradually changed the price.
"Fuel prices practically collapsed in the first half of 2020, at a later stage, especially by the end of 2020 the product had a growing trend. However, what happened in January-February exceeded all expectations. At the beginning of February, we received increased prices by 100 USD and more at the Platts. This was prompted by the launch of coronavirus vaccination and general statements on the subject. The market has started to react to this and the oil industry is not an exception, it has shown the fastest recovery," said Vasil Khorava.
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