Moroccan Fuel Prices Set to Spike as Distributors Delay Increases

At the end of January, an increase of nearly 40 cents per liter had been noted at the service stations and a new increase should be recorded in mid-February. But the distributors refrained from raising prices in February. The persistent inflation and the low purchasing power of Moroccans have undoubtedly led the distributors to make such a decision, explains Mostafa Labrak, energy expert and general manager of Energysium consulting, to the daily Les Inspirations Éco.

Also, the oil distribution companies have not increased the prices because of the sanction recently imposed by the Competition Council on nine of them for anti-competitive practices, it is specified, adding that they must now "provide quarterly reporting on the state of purchases, stocks, the evolution and variations of international markets, as well as the repercussions [they make] on prices on the national market".

As distributors cannot contain their margins indefinitely in the face of rising oil prices, pump prices will skyrocket in the coming weeks. Consumers should expect an increase of one dirham per liter at the end of this month, the specialized media indicates, noting that the forecasts for global oil demand growth for 2024 have been revised downward, according to a recent report by the International Energy Agency (IEA).