Fuel prices in Georgia are continuing to rise, with the country’s full dependence on imports leaving domestic prices closely tied to international Platts indicators. Wissol General Director Vasil Khorava said gasoline prices have risen by about 25% over the past month and a half, reaching around $1,250 per ton.
Khorava said the increase of roughly $250 per ton translates into an additional 40-50 tetri per liter in costs. He added that higher demand from Central Asian countries, which increased purchases from Eastern European refineries after Russia reduced supplies, has intensified competition for fuel in the region.
According to Khorava, demand at refineries in Romania, Greece and Bulgaria has reached unprecedented levels, with producers effectively selling fuel through an “auction” system. Refineries are now charging premiums above Platts prices, while logistics costs have also increased, adding further pressure on importers.
Khorava warned that fuel prices in Georgia are likely to continue rising in the coming weeks. He said the trend, which initially affected diesel more strongly, has now spread to gasoline, with current September prices already above July and August averages and gasoline reaching a yearly record.
