Home / Business / Amid Record Oil Price Drop, Oil Prices in Georgia Reduced only by GEL 0.0 3-0.05

Amid Record Oil Price Drop, Oil Prices in Georgia Reduced only by GEL 0.0 3-0.05

Amid a decline in the world’s oil prices, theGeorgian  users demand a drop in prices of fuel.

Requirements of similar content are spread insocial networks, however, the Chairman of theUnion of Oil Products Importers predicts only aGEL 0.03-0.05 drop in prices.

Vano Mtvralashvili does not specify when we should expect the price change saying that priceswill drop only by GEL  0.03-0.05 in the near future.

The decrease was primarily due to the drop in international oil prices, “- says Mtvralashvili andnotes that the price decline is continuing and, therefore, most likely fuel price will reduce by GEL 0.03-0.05 on  the Georgian market in the foreseeable future.

According to recent data,  WTI for December delivery decreased by USD 1.76 or 2.2 percent and amounted to USD 78.78. The price fall is explained by the fact that the Saudi Arabian Oil Co. haddecreased “black gold” export value to  the USA.