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What Determined the Price on Fuel Under the Previous Government?

Published: October 16, 2013 | 2:18 pm
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What determined the price on fuel under the previous government – the global market prices, or the benefits obtained by the State from the sale of each litre? The Energy Minister Kakha Kaladze has spoken about a corruption scheme which allowed senior government members to obtain up to GEL 60 million from oil importing companies. However, the minister has declined to reveal what evidence he has to make such accusations, stating that everything will be determined by the investigative authorities.
According to the Association of Oil Importers, the single main factor determining the change in prices on fuel on the local market have been the trends on its international equivalent. The head of the association Vano Mtvralishvili has stated that the price changes on the global market are usually reflected in Georgia within 20-25 days, which is a logical time frame. According to him, price diagrams prove that the local prices on fuel are directly connected to the global trends.

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