Moroccan Fuel Companies See Profit Surge Amid Rising Prices

Nine oil companies increased their profits from the sale of diesel and gasoline by 20% and 11% respectively, reveals a report by the Competition Council. In detail, the diesel sales margin increased from 1.21 dirhams per liter to 1.46 dirhams between the second and third quarters of 2024. As for gasoline, the margin climbed from 1.79 dirhams to 2 dirhams during the same period.

This report shows that the weighted average gross margins obtained through the sale of diesel during the same period fluctuated between a minimum of 1.35 dirhams per liter and a maximum of 1.59 dirhams per liter. As for the gross margins for gasoline, they remained relatively higher than those of diesel, ranging between a minimum of 1.86 dirhams per liter and a maximum of 2.11 dirhams per liter.

The evolution of the profit margins of diesel and gasoline is observed during two periods. The first period from the first half of July to mid-August is marked by a drop in gross margins. They fell from 1.54 dirhams per liter to 1.35 dirhams per liter for diesel, a decrease of 19 cents per liter, and from 2.03 dirhams per liter to 1.86 dirhams per liter for gasoline, a drop of 17 cents per liter. The second period covers the remaining weeks of the third quarter of 2024.

This period was characterized by a slight increase in gross margins, rising from 1.35 dirhams per liter to 1.46 dirhams per liter for diesel at the end of September, an increase of 11 cents per liter. As for the profit margins for gasoline, they went from 1.86 dirhams per liter to 2 dirhams per liter, an increase of 14 cents. This increase reached its peak with levels of 1.51 and 2.11 dirhams per liter respectively, towards the second half of August, the report specifies.