Romania, Bulgaria, Russia largest fuel importers for Georgia in January-April

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 Agency said the share of the three largest importing companies in total imports amounted to 69 percent, with a total of 385,678 litres of gasoline and diesel imported into the country by 22 companies. Diesel fuel accounted for 35.9 percent of the total imports, while for gasoline the figure was 64.1 percent. 

Characterised by “pronounced turbulence” in the first half of the January-April period, the trend of rising oil prices in global markets and the depreciation of the Georgian Lari exchange rate was emphasised by the Agency. 

• Competition Agency: import of gasoline, diesel up 7.2% in Georgia in 2021

It also noted a later strengthening of the Georgian currency and the decrease in the price of oil, highlighting as of April 30, prices in Lari were showing an 18 percent reduction on Platts - a leading supplier of information and analytics to global markets. A “relatively high price” was still noted by the Agency, which said it marked a 41 percent average increase compared to January.

The report also found the cost of fuel imported from Russia was on average ₾0.3-0.6 lower compared to that imported from European countries, noting in the case of large companies on the retail market the latter was available at an “identical price” to European-originated fuel.