Fuel Is Becoming Cheaper in Georgia

Oil companies operating in Georgia have started to reduce fuel prices. 

Today, Wissol Petroleum Georgia, which owns the largest network of gas stations in Georgia and offers consumers the widest range of oil products, is expected to decrease the price of petrol by 0.05 GEL.

This is the second price reduction on the Wissol products in the last two weeks. Last week diesel prices were reduced by 0.05 GEL.

“If the positive trend is maintained on the international market it will inevitably be reflected in our prices,”- Director General of Wissol Petroleum Georgia Vasil Khorava has noted.

The same day, Socar Georgia Petroleum, another large oil company in the country also reduced prices on all its products by 0.05 GEL.

In July, oil companies were fined in Georgia, several of them with millions of GEL to pay for violating the country’s law on competition by artificially inflating fuel prices and acting in collusion.

Socar and Wissol had been among the five largest oil companies, which were ordered to collectively pay a 55 million GEL fine for acting in concert while determining fuel prices in the local market.

17 August 2015 13:12