Fuel Prices in Morocco Expected to Drop as Global Oil Costs Decline

While diesel and gasoline are very expensive, the situation could improve this Saturday. This is at least what several professionals are suggesting, citing the price of crude oil, which has retreated in recent days to fall below the $100 per barrel mark.

For them, this downward trend in global oil prices could result in a one-dirham drop in pump prices at the national level in the coming days. On the subject, economist Mohamed Jadri stressed that "this downward trend should impact the domestic market in the coming weeks where prices could drop to 13-14 dirhams, in the hope of seeing the price of a barrel drop below the $60 threshold by the end of the year. And this, in order to find the normal prices of 9-10 dh at the national level."

These comments were confirmed by Mustapha Labrak, a specialist in hydrocarbons and energy, who explained the distinction to be made between the price of crude oil and that of the refined product. "The rise in the price of crude oil does not mean that the refined product will systematically experience a rise. The same goes when it comes to a drop in price," he specified.

Based on the price the crude oil was displaying 15 days ago, a drop of about one dirham in fuel prices is expected as early as Saturday, Mustapha Labrak confided, stressing that "the reasons for such a drop are due to the adoption, by the central banks, of the policy of raising key rates to deal with inflation, as well as the drop in demand."