Moroccan motorists grapple with fuel price surge
Morocco’s fuel imports have surged to 1.7 million tons, valued at $1.26 billion, marking a 10.8% increase in volume. This rise has led to a noticeable hike in fuel prices across the country, with diesel increasing by 20 cents per liter and gasoline by 16 cents per liter.
In Casablanca, the average price of diesel has reached MAD 11.67 per liter, while gasoline is now MAD 13.53 per liter, according to the National Federation of Gas Station Owners, Traders, and Managers (FNPCGS). Prices in other cities are generally higher due to additional transportation costs, which vary based on distance.
Industry experts attribute this price hike to global market fluctuations, particularly the ongoing crisis in the Red Sea. They anticipate that this increase is just the beginning of a series of price hikes in the near future.
Hussein Yamani, Secretary-General of the National Union of Petroleum and Gas and President of the National Front for the Protection of the Moroccan Oil Refinery, has called for the cancellation of the decision to liberalize fuel prices. He advocates for reintroducing a regulated pricing system to protect stakeholders' rights and consider the low income of the general Moroccan population.
The Competition Council's latest report indicates a decline in international prices, purchasing costs, and domestic selling prices for both diesel and gasoline during the third quarter of 2024. However, the report notes that while gasoline prices at the pump reflected the full decrease in purchasing costs, diesel prices did not. The reduction in diesel selling prices was 27 cents per liter lower than the decrease in purchasing costs and international quotations.
Meanwhile, a 2024 report by Global Petrol Prices ranked Morocco among the five African countries with the highest gasoline prices. This ranking highlights the significant impact of fuel price fluctuations on Moroccan motorists and the broader economy.
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