Gasoline prices in Georgia have increased by 40-50 tetri per liter over the past month and a half, according to Wissol General Director Vasil Khorava. He said rising international oil prices and higher logistics costs are putting further pressure on the domestic market.
Khorava said the gasoline Platts benchmark has increased by around $250 per ton, or nearly 25%, reaching about USD 1,250 per ton - its highest level this year. He expects fuel prices to continue rising gradually in the coming weeks, with both gasoline and diesel affected.
He said additional pressure is coming from increased demand in Eastern European markets. After Russia reduced fuel supplies to Central Asian countries, they began purchasing from Bulgaria, Romania and Greece - markets that also supply Georgia. The resulting supply-demand imbalance has pushed up premiums and logistics costs.
According to Khorava, Eastern European refineries are now effectively selling fuel through an “auction” system, charging premiums above Platts prices. He said this new pricing trend, combined with higher demand and regional supply shortages, is likely to keep fuel prices under pressure in Georgia, which is fully dependent on imports.
