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Prime Minister Speak out against Fuel Prices on Georgian Market

Prime Minister demands that the Competition Agency give an answer to the question in 10 days

“why the world prices are not adequate to gasoline prices   in the Georgia market”.

Prime Minister announced this at the Cabinet Meeting today.

“I instructed the Competition Agency to work on this issue and held responsible for the lack of study and control over  petrol prices in Georgia. Fuel prices fell  several tens of percent in the world market. To our surprise, it is not adequately reflected in our market. So, I want the CA in ten days to familiarize the public with what we are dealing. I know that the price of gasoline went down in Georgia today, but it should be adequate and appropriate to the global market “, – Garibashvili said.

The head of the government waits for a detailed report on the matter within 10 days.

Competition policy reform was one of the key demands of  the Deep and Comprehensive Free Trade Agreement (DCFTA) between Georgia and the EU. According to the Association Agreement between the EU and Georgia,  the country should have  effective antitrust legislation and competition regulatory body. The Competition Agency, which was established in January 2012 and existed only formally, was  launched on October 1in 2014.

Recall that a  campaign titled a Protest against the Georgian Fuel Prices  has been held in Georgia for several years  and  opposes discrepancies between the prices on the Georgian market and the global prices accusing  Georgian oil  companies of operating cartels.