Georgia Seeks To Boost Gasoline Supply From Azerbaijan Amidst High Fuel Prices
(MENAFN- AzerNews)
Ulviyya Shahin
Read more
Georgia is looking to increase its gasoline supply from
Azerbaijan, as stated by Vakhtang Iobashvili, Chairman of the Union
of Oil Products Importers of Georgia. This move is anticipated to
be driven by the recent modernization of oil plants in Azerbaijan,
which is expected to enhance the capacity and efficiency of oil
production in the neighboring country.
The current fuel prices in Georgia reflect a significant
financial burden on consumers. The average price of EU-95 gasoline
stands at 3.16 lari (2.15 manats) per liter, while EU-98 gasoline
is priced at 3.62 lari (2.30 manats) per liter. Diesel fuel is
priced at 3.32 lari (2.11 manats) per liter, and LPG gas is
available at 1.53 lari (0.97 manats) per liter. These figures
indicate a notable expense for Georgian consumers and businesses
reliant on fuel.
The price pressures on fuel in Georgia can be attributed to
various factors, including international oil market fluctuations,
supply chain constraints, and local taxation policies. By
increasing the supply of gasoline from Azerbaijan, Georgia aims to
stabilize and potentially reduce fuel prices, which could alleviate
some of the financial pressure on consumers and businesses.
The modernization of Azerbaijan's oil plants is a strategic move
to enhance the country's oil production capabilities. This
modernization includes upgrading refining technologies, expanding
production capacity, and improving the overall efficiency of oil
processing facilities. The expected increase in supply from
Azerbaijan could play a crucial role in addressing the
supply-demand imbalance in the Georgian market.
In the broader context, Georgia's reliance on imports for its
fuel needs underscores the importance of diversifying supply
sources to ensure energy security and price stability.
Strengthening ties with Azerbaijan, a key regional energy player,
could offer Georgia a more stable and potentially cost-effective
fuel supply, contributing to long-term economic benefits.
The anticipated increase in gasoline supply from Azerbaijan
could serve as a significant step toward easing fuel price
pressures in Georgia, benefiting both consumers and businesses. As
the situation develops, monitoring the impact of these changes on
fuel prices and overall economic conditions in Georgia will be
essential for understanding the broader implications of this
strategic move.
MENAFN06082024000195011045ID1108521529
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.