Georgia’s fuel market is highly competitive, making it impossible for companies to sustain unjustified price increases, according to Vasil Khorava, CEO of Wissol Group.
Speaking to BMG, Khorava said that any importer setting unreasonable prices would struggle to sell its product, as competition among fuel suppliers remains intense. “If someone sets an unrealistic price, the market will not accept it, and the company will ultimately harm itself,” he said.
Khorava noted that Wissol has recently managed to avoid sharp price increases by balancing older inventories with newly imported fuel. This weighted pricing approach allowed the company to offer relatively lower prices despite volatility in international markets, although existing inventories are now nearly exhausted.
Looking ahead, he said fuel prices will largely depend on June’s average international PLATTS benchmark. Khorava added that building large fuel reserves is neither economically nor logistically practical, as financing, storage, insurance, and evaporation costs would ultimately make fuel more expensive for consumers.
