Gov’t anticipates decrease in fuel prices in Georgia

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. 

He noted the Agency had made “interesting findings” as a result of the monitoring, adding the effect of recent local price increases was “not in compliance” with rising prices on the international market.

Davitashvili stressed the importance of the Government’s communication with both retailers and importers of fuel, adding the Government would hold meetings with the companies over the issue.

Prime Minister Irakli Garibashvili announced the Georgian National Competition Agency would look into the upward trend of fuel prices in the country earlier this month and noted “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.