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 Government Administration, at the commission meeting, the current fuel prices in Georgia and potential resources for their reduction were discussed. 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 was held in a discussion format. The parties agreed that dialogue would continue in a working mode.

Discussions regarding the prices of food products, medicines and fuel will, from next week, move to a format of a parliamentary commission.