In early 2017, in the retail network, average retail price for the most demanded regular type gasoline at gas stations was 1,85-2,09 GEL per liter, for premium type gasoline – 2,09-2,19 GEL and for diesel fuel – 1,94-2,15 GEL per liter.
According to the Union of Oil Product Importers, the price increased stage by stage till the end of February, namely: regular type gasoline 2,09-2,25 GEL per liter, for premium type gasoline – 2,29-2,36 GEL and for diesel fuel – 2,09-2,30 GEL per liter.
As from March, fuel price started reducing and by August the price for regular type gasoline was 1,85-2,07 GEL per liter, for premium type gasoline – 2,09-2,18 GEL and for diesel fuel – 1,89-2,04 GEL per liter.
In August, prices for fuel started rising again. By now, average retail price for fuel is:
Regular type gasoline – 2,23-2,34 GEL/liter;
Premium type gasoline – 2,33-2,46 GEL/liter;
Diesel fuel – 2,33-2,42 GEL/liter.
Fuel price formation in retail network in relation to international price is influenced by one very important factor, which is Georgian lari exchange rate to US dollars. At the beginning of the year, official exchange rate of GEL to USD was 2,64-2,70. As from mid February GEL started stabilizing gradually and by August the exchange rate was 2,38-2,40. From October till December, GEL started devaluating again and by the end of November and beginning of December the exchange rate was 2,70-2,72. Only in early December Georgian lari started stabilizing again and by now its exchange rate to USD is 2,54-2,55.
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