Competition Agency to inspect fuel prices in Georgia
In late March, Garibashvili said Georgia ranked 100th in the world on fuel costs, noting local prices were reflecting the “same challenges” as those faced globally in the wake of the war in Ukraine. Photo: Environment Protection Supervision Department
Tweet 
Share
The Georgian National Competition Agency will look into the upward trend of fuel prices in the country following the Russian invasion of Ukraine and submit an interim report this month, Prime Minister Irakli Garibashvili announced on Monday.
Garibashvili said following the submission of the report by the Agency - expected by May 15 - the Government would be able to “respond accordingly” to the trends that have seen recent public protest.
The PM also added “many importers” in Georgia had already begun importing “relatively cheap fuel” to counteract the dynamics, but the process had not yet been reflected in the prices.
In late March, Garibashvili said Georgia ranked 100th in the world on fuel costs, noting local prices were reflecting the “same challenges” as those faced globally in the wake of the war in Ukraine.
The country’s Economy Minister Levan Davitashvili said in March his Ministry expected a potential decrease in fuel prices through the importation of fuel purchased at cheaper rates.
The Georgian Economy Ministry expects a potential decrease in fuel prices through importation of the product purchased at cheaper rates, Minister Levan Davitashvili said on Monday.
Prices of fuel are higher in 99 countries compared to Georgia, Prime Minister Irakli Garibashvili pointed out on Monday in response to protests in cities of the country over rising fuel costs on the backdrop of Russia’s invasion of Ukraine.
The trend of price increases in Georgia is mainly caused by supply disruptions and record-high fuel prices, Georgian Economy Minister Levan Davitashvili said on Wednesday, calling the trend a “challenge any Government faces”.
Georgia imported 1,453,707 litres of gasoline and diesel in 2021, marking a 7.2 percent increase compared to the previous year, an annual report of the Georgian National Competition Agency reads.
A reduction in fuel prices in Georgia is expected following the inspection of the market by the Georgian National Competition Agency, Levan Davitashvili, the country’s Economy Minister, said on Monday.
Georgian Economy Minister Levan Davitashvili on Tuesday said the Government was considering the possibilities of obtaining fuel supply for the local market from "cheap sources" and minimising the margins in orders, in an effort to ensure affordable local fuel costs.
In the first four months of the year, the largest volume of fuel in Georgia was imported from Romania with 31.2 percent of the share, followed by Bulgaria with 24.1 percent and Russia with 17.8 percent, an interim report of the Georgian National Competition Agency reads.
The recent changes to the pharmaceutical market in Georgia to widen competition and improve customer options and antitrust investigations against companies were noted by Irakli Lekvinadze, the Chairman of the Georgian National Competition Agency, in his report on the past year to lawmakers on Thursday.
The National Competition Agency of Georgia has signed memorandums for strengthening cooperation with Austrian and Serbian counterpart institutions at an international conference on competition and consumer rights running in Tbilisi, the body said on Wednesday.