Aviation fuel prices in Georgia may further decrease by approximately 10% after May 16. This was announced by Giorgi Andguladze, Commercial Director of Georgian Petroleum. According to him, global quotes began to noticeably decline in the second half of April, and this is already reflected in the Georgian market.

The Platts index, which is used to calculate fuel costs, has dropped from $1600 to $1300 per ton. As Andguladze noted, the sharp increase earlier was caused by the war in Iran: before the conflict, the index was around $800 per ton, but then prices virtually doubled. Now the situation is gradually stabilizing, although fuel costs still remain high.

The company explained that prices for air carriers are updated every two weeks according to a special formula, so the decline in global quotes directly affects airline costs. Among Georgian Petroleum's clients are Lufthansa Group, Qatar Airways, flydubai, and Israeli air carriers. According to IATA, the average global price of aviation fuel decreased by 10% over the week to $163 per barrel, but compared to last year, fuel is still about 81% more expensive.