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GCCA: Fuel imports rise in 2024, market remains competitive

by Mariam Razmadze
February 12, 2025
in Business & Economy, News
Reading Time: 1 min read
GCCA: Fuel imports rise in 2024, market remains competitive

Photo: British Petroleum.

The Georgian Competition and Consumer Agency (GCCA) recently published a 2024 auto fuel market report revealing increased imports and stable market conditions.

Per the report, in 2024, there were 47 companies actively engaged in the sector’s activities, with 1.67 billion liters of gasoline and diesel imported, an 8.2% rise, while the total import value reached 2.78 billion GEL. Despite the growth, the market remained low in concentration and the three biggest importers held 44% of the total imports. 

Russia was still the primary supplier, accounting for 54% of fuel imports, however, its share declined from 2023. Bulgaria followed by 16.7% and Romania with 14.7%.

At the retail level:

  • 383 companies operated 1,238 gas stations across the country.
  • The five largest companies controlled 67.1% of the market, with 500 stations.
  • The HHI index for retail was 1,190, revealing a low-concentration market with stable competition.

There were fluctuations in fuel prices throughout the year, with prices falling in January and February but rising again in March and June because of increased import costs. Import costs declined again over the July-September span, nevertheless, retail prices decreased from September 23 to October.

 

Tags: fuel pricesGCCA
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