Fuel Prices Set to Drop: Gasoline and Diesel Relief Coming at the Pump

"This is good news for the consumer, hoping that this trend will be maintained and production internationally as well," said Mostafa Labrak, general manager of Energysium consulting, quoted by Les Inspirations Eco.

Explaining the price developments internationally, the expert indicated that the gasoil price has dropped from $1,400/tonne to $1,000/t currently. The Organization of Arab Petroleum Exporting Countries (OAPEC) is optimistic and expects, in its latest report, that crude oil prices will stabilize in the second half of the year between $90 and $100 per barrel.

In Morocco, the reduction in pump prices is solely the responsibility of the operators, as the sector is liberalized, the newspaper points out, stressing that the Executive has repeatedly refused to act on pump prices due to the impact on the national budget, choosing instead social measures to support this increase.

In this context, only competition between operators can regulate prices. "In Morocco, the pricing of petroleum products is based on 61% of the price of fuels that depend on the international market, while 31% are made up of taxes and duties. The cost of distribution and profit margins make up the rest (8%)," explains the same source.