Competition Agency to inspect fuel prices in Georgia

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.