Morocco Fuel Prices Surge 2.5% as Global Oil Costs Rise

The price of a liter of gasoline is now 15 dirhams and that of diesel 14 dirhams, reports the daily Al Akhbar, specifying that the prices vary from one station to another and from one city to another. The increase is due to the "change in prices, which occurred after the receipt of the new stock. This has led to an increase in the weighted averages of the stock," explain the owners of the distribution companies.

The service stations "sell the fuels at cost price without any profit margin. Through the offer of 14.58 dirhams per liter of gasoline in the service stations, the oil companies make a small margin, if not a zero margin," they detail. For the majority of drivers and citizens of the kingdom, the rise or fall in fuel prices at the pump depends on the evolution of crude oil prices.

For its part, the Grouping of Oil Companies of Morocco observes that "ambiguity and uncertainty characterize the market during the current period. Concerns persist about the advent of an energy crisis worldwide, as prices are constantly rising to the point that banks and hedge funds are not keeping up, thus threatening the balance of the market".