Wissol Group founder Soso Pkhakadze says the company is still relying on fuel reserves accumulated before the outbreak of the conflict in the Middle East, helping keep fuel prices lower than they otherwise would have been in Georgia.
According to Pkhakadze, without these reserves, domestic fuel prices would be significantly higher. He noted that market volatility remains high, with oil product prices fluctuating daily depending on developments in the region.
Pkhakadze expressed hope that the conflict will end soon, arguing that a stabilization of the situation would lead to lower oil product prices and, consequently, cheaper fuel.
Earlier, Wissol CEO Vasil Khorava said weaker economic activity and lower demand for fuel, particularly diesel, had extended the company’s inventory duration, allowing it to limit price increases despite rising international market pressures.
