22.Mar .2021 11:43

Wissol predicts a further increase in fuel price

Wissol predicts a further increase in fuel price
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Wissol CEO Vasil Khorava predicts a further increase in fuel price depending on the current trend on the international market. He told Business Course, that today the company has a difficult picture because they sell the fuel with a prime cost and the prices will be adjusted in the future.

Vasil Khorava explains that the company's interest is to keep fuel prices low, although they depend on various factors while importing the oil products.

"Our desire is not to raise prices on the international market. We are making minimal purchases today so as not to create additional volumes with the expensive fuel. This will cause to keep prices high on the local market. As soon as prices fall on the international market, we will use this moment to create additional volumes in order to adjust prices on the local market.

As for the international market, today the expectations in terms of both growth and decrease are diverse. We must be consistent. Unfortunately, Georgia is not an oil-producing country and we do not have the opportunity to use other tools in the purchase of fuel, so we buy the product at the international market price," said Wissol CEO.

According to him, the fuel price at Wissol gas stations is 30 tetri up since the beginning of the year, but consumption has not decreased.