Georgia’s Economy Minister stresses ongoing dialogue with private sector to explore fuel price reduction

Mariam Kvrivishvili, the Minister of Economy and Sustainable Development of Georgia, on Friday said that ongoing cooperation between the state and the private sector was crucial to identifying ways to reduce fuel prices in Georgia.

Kvrivishvili commented on a recent meeting held at the Government Administration, chaired by the Georgian Prime Minister Irakli Kobakhidze, within the governmental coordination commission on food price issues.

The session focused on the fuel market, bringing together representatives of major companies operating in Georgia’s fuel sector.

“Despite this fact, it is very important for the state to continue working and discussing together with the private sector what resources can be found, through joint efforts, to reduce fuel prices”, Kvrivishvili said.

The Minister noted that fuel prices in Georgia remained substantially lower than in European countries, attributing this advantage primarily to the Government’s excise tax policy.

“On the one hand, it should be noted that fuel prices in Georgia are significantly lower compared to those in European countries, which is, of course, due to the Georgian Government’s sound policy regarding excise taxes, which on average are about three times lower than in European countries”, she concluded.