Government Warns Importers not to Increase Fuel Price

The Georgian authorities have warned importers not to increase the price of fuel, amid a persisting energy crisis in the country.

?Some of [these importers] are trying to benefit at the expense of this crisis. I say to these people: ‘the market price of one big gas canister is GEL 15 [USD 8.3]? The market price of one liter of kerosene is GEL 1.4 [USD 0.77]. If we see that someone is trying to sell fuel at a higher price, we will immediately react in a strict manner. This is a warning to all businessmen who are engaged in this [fuel business]. We should all stand together in this time of hardship,? Giorgi Arveladze said.

He said that the Financial Police ?will be mobilized to monitor fuel prices.? But he did not specify through which mechanisms the authorities can intervene and regulate fuel price.

?These measures aim at preventing an increase of the price on fuel and other means of heating sources,? Arveladze added.

He also said that, currently, there is no kerosene reserve in the country.

?We have a fuel deficit and we are now working to import additional amounts [of kerosene fuel] to fill this gap,? Arveladze added.

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