Economy Minister: Gov’t considering possibilities of reducing fuel costs
The Economy Ministry cited Davitashvili as saying the Government was working to have "a full-fledged, competitive environment in the fuel market" and be able to supply “expensive fuel” to the market "with as cheap and favourable conditions as possible". Photo: Ministry of Economy.
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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.
The Economy Ministry cited Davitashvili as saying the Government was working to have "a full-fledged, competitive environment in the fuel market" and be able to supply “expensive fuel” to the market "with as cheap and favourable conditions as possible".
Davitashvili acknowledged the “very high” fuel prices across the world, as caused by the ongoing Russia-Ukraine war, in his comments.
We understand that Georgia can not escape the global trend [of rising fuel costs], but our goal is to get the supply of fuel from cheap sources, as well as to minimise the margins, so that our population is able to buy fuel on the most favourable terms", Davitashvili said at a meeting with representatives of small fuel distribution networks earlier today.
The Ministry also said a similar meeting would also be held with representatives from larger fuel provider companies in Georgia this week.
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.
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.
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.
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.
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.