BAKU, Azerbaijan, Apr.3
By Tamilla Mammadova – Trend:
Since the beginning of February, prices for gasoline and diesel fuel in Georgia have fallen by 25-30 tetri (8-9 cents) per liter, which is caused by lower prices for oil and oil products in international markets, Trend reports referring to the Union of importers of petroleum products of Georgia.
According to the union, a significant decrease in oil prices was observed in March. In particular, since early March, oil prices on the London-based subsidiary of Intercontinental Exchange ICE Futures Europe fell by an average of 55.5 percent. Accordingly, the price of fuel fell recently in the retail network of fuel sales in Georgia.
Current oil prices are primarily affected by the coronavirus pandemic. As a result of this, oil demand at this stage significantly reduced.
Speaking about the situation on the Georgian fuel market, the Union of importers of petroleum products of Georgia noted that, first of all, attention should be paid to the Georgian national currency exchange rate against the dollar, which is directly related to the retail price of fuel.
To date, in the networks of branded petrol stations, the average price of super gasoline is 2.53-2.58 lari (78 -80 cents) per liter, premium - 2.36-2.45 lari (73-76 cents), regular - 2.20-2.35 lari (68-73 cents), and diesel - 2.43-2.49 lari (75-77 cents) per liter.
In January 2020, imports of petroleum products to Georgia decreased by 4.7 percent compared to the same period in 2019, and amounted to 74,700 tons. Russia remained the largest fuel supplier to Georgian for the indicated period.
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