Irakli Kobakhidze, Prime Minister of Georgia, met representatives of major fuel companies operating in Georgia within the framework of the Cross-Government Coordination Commission on Consumer Prices.

According to the Prime Minister’s press service, the current fuel prices in Georgia and potential measures to reduce them were discussed at the commission meeting.

It was noted that, unlike food products, fuel prices in Georgia are significantly lower compared to European countries. This is partly due to the excise tax in Georgia being roughly three times lower than the corresponding taxes in European countries. Nevertheless, some discussion regarding the potential reduction of prices is possible.

The Prime Minister of Georgia heard the perspectives of fuel company representatives on how they assess the current market situation, the functioning of the supply chain and the price formation mechanism.

The meeting took place in a discussion-based format. The participants agreed that dialogue would continue in a working manner.

Starting next week, discussions concerning the prices of food, medicines, and fuel will be transferred to a parliamentary commission.