Morocco Poised for Second Consecutive Fuel Price Respite in May
In a welcome development for consumers and transportation professionals grappling with escalating fuel costs, Morocco is set to witness its second consecutive reduction in fuel prices this month. The impending decrease, scheduled to take effect on Friday, May 17, 2024, will bring much-needed relief to both gasoline and diesel users across the nation.
Motorists can anticipate a significant drop of approximately 40 cents per liter at fuel distribution stations nationwide. This reduction follows a previous decrease of 25 cents per liter for diesel on May 1, 2024, signaling a positive trend in the country's fuel market.
With the new prices in effect, gasoline will be sold at approximately MAD 14.60 per liter, while diesel will be available at a more affordable rate of MAD 12.40 per liter. This adjustment will provide a financial reprieve for consumers who have been grappling with soaring fuel expenses.
Prior to the impending price reduction, major fuel distribution companies such as Afriquia, Shell, and Total Energy were selling diesel at rates ranging from MAD 12.79 to MAD 13.04 per liter, while gasoline prices hovered around MAD 15.05 per liter across their respective stations.
It is worth noting that fuel prices at service stations in remote towns and villages within the Kingdom may vary slightly from these reference rates due to additional transportation costs, with distance playing a crucial role in determining the final pump prices.
In a proactive move to support the road transport sector, the Ministry of Transport and Logistics had previously announced the opening of registration for additional aid for road transport professionals, effective from May 3rd. This initiative, outlined in a ministerial statement, underscores the government's commitment to alleviating the financial burden on those working in the transportation industry.
As Morocco embraces this successive fuel price reduction, consumers and industry stakeholders alike can anticipate a tangible easing of their fuel-related expenses, fostering a more favorable economic environment for both personal and commercial transportation endeavors.