High fuel costs stem from broader global market pressures, and reducing duties would fail to bring down pump prices. Such a statement made today the Prime Minister of Georgia.

Responding to the journalists regarding rising fuel costs and opposition proposals to lower fuel duties, he maintained that tax adjustments would yield negligible relief for consumers.

"Global problem drives fuel prices. No matter how much you reduce taxes, it will not radically affect the price of fuel, simply because tax accounts for a very small fraction of the cost per litre.

Furthermore, tax revenues feed directly into the national budget, which ultimately serves the public. Calls for fuel duty cuts are therefore entirely speculative", - said Irakli Kobakhidze.