The Georgian National Competition Agency has completed the investigation into five undertakings in the motor fuel market, which was launched on August 16, 2022, on the basis of the recommendation of the Prime Minister of Georgia and the results of the monitoring implemented by the Agency. The case concerns the maintenance of high prices in the retail market of motor fuel in the period of March-August 2022, the Agency said Friday.
The investigation implemented by the National Competition Agency has confirmed the violation of Article 7 of the Law of Georgia on Competition by LLC “LUKOIL-Georgia", JSC “WISSOL Petroleum Georgia", LLC “San Petroleum Georgia", LLC "SOCAR Georgia Petroleum" and LLC "Rompetrol Georgia".
According to the Agency’s decision, the undertakings have been subjected to the relevant fine of up to 4 million GEL in total. Moreover, in order to improve the competitive environment in the market, the Agency issued necessary recommendations.
The companies can appeal the Agency's decision in Tbilisi City Court, in accordance with Georgian legislation.
To the present day, the situation on the petroleum products market has been brought to normal. However, due to the high public interest and the strategic importance of the market, the National Competition Agency continues monitoring of the motor fuel (gasoline, diesel) market.
