“The fuel market in Georgia is currently normalized, and prices are stable,” stated Irakli Lekvinadze, Chairman of the National Competition Agency, while commenting on the current trends in the fuel market.

Lekvinadze explained that the world market prices and the currency exchange rate are the factors that influence fuel prices in Georgia. According to him, the international prices have been stable, showing a decreasing trend in the last month, and the exchange rate of the Georgian lari is steady.

“In recent weeks, prices at selling companies have remained stable without an upward trend. There is no expectation of a sharp change in prices at this stage.

The competition in the market has improved compared to the previous year, while market factors influence the pricing. The companies’ profit margins are low, and prices for the same fuel types among different chains differ slightly.

While Russian fuel currently has a cost advantage, the difference between the European and Russian fuel costs is not as sharp as last year.

It is challenging to predict the Russian market. However, there are currently no global or domestic factors that could cause significant price fluctuations,” he stated.