Fuel Prices Surge in Morocco as Global Demand Rises

Pump prices, which had dropped significantly in March and April, have rebounded since May. The liter of diesel is currently approaching 8 dirhams, while it was close to 7 dirhams a few weeks ago.

This increase is justified by the rise in economic activities around the world. Purchases and future commitments have started to drive up prices. Between mid-May and mid-June, the price of refined diesel increased on average by $130. As for the average Platts price, it went from $230 to $360 per ton, according to Panorapost.

According to the same source, experts expect the upward trend to continue until prices return to their pre-crisis levels of around $600 per ton. For the same source, "It remains to be seen whether this recovery will take weeks or months. In other words, whether we will reach pre-crisis price levels in 2020 or if it will last until 2021".

"In all likelihood, the upward curve will be smooth, as it will have to follow the growth curve of the countries. A growth that countries want to be progressive and fluid," adds our source. Based on these forecasts, pump prices will therefore increase successively over the next fifteen weeks until they reach pre-crisis levels, exceeding 9.5 dirhams per liter of diesel.