Fuel price is hiking on the international market for the last months, but the growth has become significant after the Russia-Ukraine War.
International prices are already reflected on the local market. Namely, since February 24, premium-type fuel increased by 64 tetri on the local market, regular - by 60 tetri, and euro diesel - by 85 tetri.
Vano Mtvralashvili, head of the Union of Oil Importers, says that the sharp rise in prices is mainly due to well-known two factors: fuel price rise on the international market and devaluation of national currency.
"According to Platz, gasoline price has increased by 20%, while diesel - by 42%. Consequently, this has become the reason why we practically have rising prices. Diesel price has even exceeded the 4 GEL mark. This record high increase with regard to diesel fuel creates a bitter reality. It is also quite difficult to establish a stable situation at the current stage. At the same time, since the beginning of the war, GEL exchange rate has depreciated by an average of 20-25 percentage points, which is an additional factor. Expectations are quite pessimistic. We are in a situation when forecasts and calculations can’t be made," said Vano Mtvralashvili, head of the Union of Oil Importers.
