Morocco Braces for Significant Fuel Price Hike in Coming Days

Professionals in the fuel sector "expect an increase in the prices of diesel and gasoline" at the pump, a member of the National Federation of Owners, Merchants and Managers of Service Stations in Morocco told Hespress, specifying that "the amount of this increase is not yet known, but it comes after a series of decreases and non-application of increases during previous price updates."

This professional, manager of a service station in Rabat, explains that "the commercial policy adopted by each fuel distribution company as well as its stocks remain the determining factor for fuel prices. This information on the extent of the increase usually reaches us the day before its application, and sometimes even on the same day," recalling that "since the liberalization of prices on the fuel market in 2015, the price update is not necessarily imposed on a specific date or at the end of each fortnight."

Other sources in the sector, on the other hand, drew attention to the fact that "the new increase in fuel prices has not yet been confirmed," stressing that "prices have not changed since last December, as the increase mentioned for January 1 of this year (between 17 and 20 cents per liter) was not applied." According to the latest global forecasts, oil prices are expected to hit record highs, due to new US sanctions on Russian oil companies and carriers.

Early this week, Brent reached $81.11 a barrel, while US West Texas Intermediate crude climbed to $77.97, its highest level since last October. According to the analysis of oil market analysts, "the restrictions imposed on Russian carriers could lead to an increase in oil prices and maritime transport costs, pushing China and India to seek alternatives in the Middle East and Africa."