The head of the Union of Oil Product Importers predicts that fuel will become cheaper starting next month. "Fuel prices will decrease in Georgia from the beginning of August," Vano Mtvralashvili told BMG.
According to him, on the one hand, the reason for the price decrease is the strengthening of the GEL exchange rate, and on the other hand, the decrease in the price of oil on the international market.
"Given that the GEL is strengthening and oil prices are decreasing on the international market, according to my estimation, fuel prices will definitely start to decrease from the beginning of August, or from the next week, and maybe even from the end of this week. The decrease in the international market started in June, but the decrease has been more intense in the last 2 weeks; Accordingly, this will soon be reflected in the Georgian market," Vano Mtvralashvili said.
If at the beginning of June the price of a barrel of "Brent" type oil was USD 116, today this price has decreased to USD 105. As for the exchange rate of GEL, the nationl currency is strengthening for the third week in a row. Since the beginning of the year, the nominal exchange rate of GEL against USD has strengthened by 9.67%. In May, it strengthened by - 0.76%, in June - by 7.08%, and in the current month, the rate of strengthening exceeded 3.01%.
