BAKU, Azerbaijan, Feb. 5
By Maryana Akhmedova – Trend:
Fuel prices increase in Georgia will be inevitable, as oil prices in the international market increase, and December 2021 fuel stocks are running out, Vasil Khorava, the CEO of Wissol Petroleum Georgia said, Trend reports via Georgian media.
“The prices will be maintained until December fuel imports run out, but, due to the oil price increase, it will be complicated for importing companies to maintain the current price,” he said.
According to Khorava, fuel prices may increase to a total of 25 tetri (8 cents) from the end of February 2022.
If the national currency (Georgian lari) had not strengthened against dollar, the increase would have been even higher, he noted.
“Fuel import cycle in Georgia is 2-3 weeks. The current cycle was extended given that January was not an active month in terms of sales. This allowed us to increase our 2-3 week cycle. We hope that during this period the growth trend in the international market will not continue,” the CEO said.
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