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Fuel Prices have increased

Published: July 25, 2013 | 8:38 am
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Fuel prices have once again gone up in Georgia. At this time, each oil importing company on the market has increased prices by between 3 and 5 Tetri per litre. The Deputy Chairman of the Association of Oil Importers Vakhtang Iobashvili has told TV3 that global oil prices have been steadily increasing since 1 July, adding that the recent price increases in Georgia were dictated by the circumstances on the global market.
The Chairman of the Young Financiers and Businessmen Association does not rule out further price increases in the future. He explains that the global changes in oil prices will always have an effect on the local fuel prices. However, he adds that Georgian companies have a habit of profiting from the global price increases, while being reluctant to reduce them at times when the global oil prices come down.

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