The Georgian Competition and Consumer Agency (GCCA) has published an interim report on the 2024 auto fuel (gasoline and diesel) market monitoring results.
According to the report, in 2024, 47 undertakings imported a total of 1,668,280 thousand liters of gasoline and diesel, valued at 2,781,481,558 GEL. This represents an 8.2% (totaled 1,541,612 thousand liters) increase compared to 2023. The market's import concentration index (HHI) was recorded at 959 units, indicating a low-concentration market. The three largest importers accounted for 44% of total imports, while the top five held a combined share of 62%. At the import level, no single undertaking was identified as dominant, and the market lacks the necessary concentration to establish a group dominant position based on market shares.
In 2024, the largest share of fuel imports came from the Russian Federation (54%), followed by Bulgaria (16.7%) and Romania (14.7%). Notably, compared to 2023, fuel imports from Russia have decreased, while the share of European fuel imports has increased.
At the retail level, 1,238 gas stations were operated by 383 companies in 2024. The market concentration, measured by the Herfindahl-Hirschman Index (HHI), stood at 1 190, indicating a low-concentration market. The five largest companies accounted for 67.1% of the market, operating a total of 500 gas stations. Compared to 2023, there were no significant changes in the number of operating gas stations, the HHI index, or the market shares of major companies in the gasoline and diesel retail sector.
Regarding retail prices, the market experienced a downward trend in January-February 2024. However, from March to June, the cost of fuel imported by major companies increased compared to the earlier months, leading to a rise in retail prices. In the July-September period, import costs for large companies declined relative to the previous quarter. Consequently, retail prices began to decrease from September 23 into October, which, according to the Agency, reflects a delayed adjustment in response to cost changes.
The GCCA views the gasoline and diesel market as strategic due to its size and its significant influence on various sectors, including logistics. Considering this, along with the Agency's previous identification of anti-competitive agreements in the market, continuous monitoring is ongoing. Beyond its preventive role, this ongoing oversight ensures a timely and appropriate legal response if any risks of competition law violations arise.
As part of its market monitoring efforts, the Georgian Competition and Consumer Agency also oversees the auto fuel, FMCG, and tobacco markets.
