The Union of Oil Products Importers states that the recent fuel price growth in Georgia is related to the increase in the prices of petroleum products in the international markets.
As the chairman of the Union told BMG, after the oil products exported from Russia to Georgia became more expensive and later fuel exports were temporarily banned, Georgia switched to other markets, including European countries.
According to Vakhtang Iobashvili, at the moment fuel is exported to Georgia from the following countries: Romania, Bulgaria, Greece, Turkmenistan. Accordingly, the increase in the price of oil on the international markets affects the local market as well.
As of Vakhtang Iobashvili, it is difficult to predict whether the trend of fuel price increase will continue in the local market for the future.
"I kept saying that if the prices on the global oil market would rise, this would naturally affect Georgia. This process has started and we have also seen a 3-4 tetri increase in the price of fuel in Georgia in recent days. If prices continue to rise, it will affect us as well," said Vakhtang Iobashvili.
The price of oil on the international exchange market is increasing and Brent oil cost surged by 14% to USD 90 in the last 1 month.
In addition, the price of fuel has started to rise at the different branded service stations in the Georgian market, and the prices of different types of petroleum products have increased by 2-5 tetri.
