Moroccan Fuel Prices Set to Spike Amid Global Oil Market Pressures

With the crisis in the Red Sea, added to the sharp reduction in US stocks, crude oil prices have risen considerably last week, reaching a record level in two months. This rise in international oil prices will inevitably have repercussions on the Moroccan market, say industry professionals who expect a rise in pump prices for gasoline and diesel of nearly 40 cents/liter as early as this Thursday.

As of Wednesday, January 31, prices at Casablanca service stations were 15.46 dirhams for unleaded gasoline, 14.06 for diesel and 14.66 for Excellium. The Brent price, meanwhile, settled at $81.27 per barrel, after an average weekly increase of $2.7 per barrel (+3.5%). Professionals fear a stagnation of pump prices after this increase. Bad news for Moroccans in this context of high inflation.