Fuel Prices Drop Again, Bringing Relief for Moroccan Drivers

Tuesday 16 January 2024 - 16:20

Moroccan motorists received encouraging news at the pump this week as fuel prices continued their downward trend. Reports from major cities across the country confirm that the cost of diesel and gasoline experienced a decline on Tuesday, offering additional relief for drivers grappling with high fuel expenses.

Diesel prices saw a noteworthy decrease of 31 cents per liter, while gasoline prices dropped by 6 cents per liter. Consequently, the average cost of diesel now stands at 13 dirhams per liter, and gasoline at 14.40 dirhams per liter in most stations throughout Morocco. It's worth noting that some remote areas may witness smaller decreases due to additional transportation costs.

This marks the latest in a series of gradual price drops since early January. In the preceding week, diesel declined by approximately 6 cents, and gasoline saw a reduction of 9 cents compared to previous rates. Analysts within the industry attribute these declining prices to the ongoing relaxation in global oil markets.

The reduction in fuel costs is a welcome development for Moroccan consumers and businesses alike. Recognizing the financial strains caused by inflation, the government has taken proactive measures by allocating over 5 billion dirhams in direct subsidies to truckers, taxi and bus drivers, and other transportation sectors. Given that fuel constitutes a substantial expense, every incremental decrease contributes to making operations more financially sustainable.

If international crude costs continue to stabilize, further reductions in fuel prices could be on the horizon. Presently, drivers are taking advantage of the lower pump prices to alleviate the strain on household budgets. The positive trend observed now prompts optimism, but only time will reveal whether it persists in the coming months.