Moroccan Fuel Prices Set to Drop 40 Cents, Bringing Relief to Drivers

As of May 1, diesel and gasoline prices will show a 40-cent drop. "A decline in oil prices, both on crude and on refined oil products, has been observed on international markets over the past two weeks, which will result in a drop in pump prices, particularly in Morocco. [...] Theoretically, the calculations indicate that these prices should in principle record a decline of around forty cents for diesel and almost stability for gasoline, or even a slight drop, of barely a few cents," confirms Mostafa Labrak, CEO of Energysium Consulting, a consulting firm specialized in hydrocarbons, to the newspaper Les Inspirations Éco.

According to his explanations, a still sluggish global demand, as well as a recovery that is slow to materialize in the United States and Europe, are behind this decline. In these circumstances, the prices of raw materials - including that of black gold - are being revised downwards, pending better days, added the expert. This new price drop expected at the kingdom’s service stations is also explained by price regulation, now imposed by the Competition Council, which implements the principle of the "transactional fine". The nine operators in this line of business are now required to submit a quarterly report to the institution on variations in international market prices, and to provide the prices they charge on the domestic market.