Fuel price increases in Georgia are in line with international market trends, and there are currently no grounds to launch an investigation, Competition and Consumer Agency Chairman Irakli Lekvinadze said.
The agency is continuously monitoring the market amid significant price increases, including diesel approaching GEL 4 per liter. Lekvinadze said fuel prices have risen by around 30–35% across EU countries over the past three months, with Georgia following a similar trend.
He attributed the increases to higher international Platts fuel prices, which have recently fluctuated between $1,100 and $1,500, adding that the stability of the Georgian lari has helped limit further price growth. He described domestic fuel prices as reasonable compared with those in Eastern European and neighboring countries that do not produce oil or fuel.
Lekvinadze said around 50 companies operate in the fuel import market, while five major companies account for 66–68% of the retail market. The agency has not identified abuse of a dominant position by market participants.
However, he warned that an investigation could be launched if retail prices fail to decline within a reasonable period once international costs begin falling. He cited a 2022 precedent when the agency took action after retail prices remained unchanged for three months despite falling import costs. For now, he said, both international and domestic markets are still experiencing price increases.
