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Tuesday, 25 October 2016


Georgia has the highest petrol prices in post-Soviet space

2011-04-22 18:54

In the experts' opinion, highest petrol prices among the former USSR republics have been registered in Georgia. This was reported by Business Georgia which is citing the materials of Mir Interstate TV and Radio Company. In the last week, fuel grew by three cents in Georgia and now a litre of petrol costs one dollar and a half. In Armenia, for instance, petrol is sold at the price of 1,2 dollar per litre.


In response, Georgian oil companies assert that the growth of gasoline prices in the country is explained by the growth of oil prices at the international markets. Notably, a complicated situation in Libya also strongly affects the pricing, they assert.

However, in the opinion of a number of experts, Libyan crisis could not significantly influence the fuel price growth in Georgia. Georgia's major oil supplier is Azerbaijan; it occupies more than a half of the local Georgian oil market and the cost of Azerbaijani petrol considering the expenditures must be 85 cents per litre instead of the current 1,5 dollars, the analysts calculated.

"Yes, gasoline prices have growth in the world market but not enough to raise the cost so much. Local market is influenced by the specifics of the Georgian pricing. Consumers have no alternative and there is no anti-monopoly commission in Georgia", - expert Vakhtang Iobashvili remarked in an interview to Mir company. According to him, that's not the first jump of fuel prices in Georgia. At the beginning of the year, gasoline price grew by 5 percent. At the same time, basic consumer goods also became more expensive.

If the fuel price growth dynamics goes on, food prices in Georgia will jump by another several percent by summer, the specialist asserts.

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