Fuel consumption is expected to increase in September, while further price hikes cannot be ruled out, according to Vakhtang Iobashvili, chairman of the Union of Oil Products Importers.
Iobashvili said there are currently no optimistic signs of fuel prices stabilizing. He pointed to increased domestic mobility and the large inflow of Russian citizens as factors likely to boost demand for fuel.
According to him, Georgia remains fully dependent on international oil markets, where supply shortages and instability continue. He said OPEC countries are also influencing prices, while Georgia has little ability to affect international price formation as it is not an oil-producing country.
Georgia’s main fuel suppliers are currently Romania, Bulgaria, Greece and Turkey. Iobashvili noted that the country has gradually shifted away from Russian fuel, which previously arrived directly by rail at lower logistical costs. Fuel prices in Georgia have already risen, with gasoline up by 3–12 tetri and diesel by 25–71 tetri at different stations.
