Vasil Khorava, a representative of the oil import sector, warns that military escalation involving Iran, one of the world’s largest oil product suppliers, is creating significant pressure on global fuel prices. In an interview with bm.ge, he said that the conflict has already led to a sharp increase in oil prices since early June, driven by heightened risk, logistical disruptions, and shifts in global supply chains.
"Iran was a major exporter, and the war is impacting both logistics and the overall pricing policy. The initial shock has already been reflected in crude oil prices," Khorava stated.
He noted that July futures are already showing elevated price expectations, prompting suppliers to propose revising pricing coefficients. This, he explained, will inevitably lead to higher prices on the local market for petroleum products.
While April and May saw a 25–26 tetri per liter decrease in fuel prices, this trend reversed in early June, with a sharp increase between June 10–12. Khorava emphasized that oil companies will soon be forced to adjust retail prices in line with higher import costs due to the recent escalation.
"This is pure arithmetic—price hikes will match the proportion of cost increases in petroleum imports," he concluded.
Wissol Group's journey began in 2 000 with Wissol fuel stations. Today, it has grown into one of the largest business groups in Georgia, encompassing not only nearly all sectors of energy but also ventures in development, advertising, supermarkets, and American restaurant chains. Alongside Wissol, the group includes successful brands like Smart, Wendy's, Dunkin', Subway, Winto, MP Development, Biograph and Alma.
