Georgia says fuel prices driven by global markets

Fuel prices in Georgia are not regulated by the government, Prime Minister Irakli Kobakhidze said. 

Kobakhidze explained that the recent rise in fuel costs is driven by record prices on the global market, which he linked to ongoing instability in the Middle East. He emphasised that the Georgian government has limited ability to influence domestic fuel prices when international rates are increasing, Caliber.Az reports per Georgian media. 

“The surge in prices is tied to the crisis in the Middle East. We hope the situation will stabilize soon, which would contribute to lower fuel costs,” Kobakhidze stated.

He added that, under current conditions, Georgia must rely on global market developments and wait for external factors to ease before any significant price reductions can occur.

By Sabina Mammadli