The Competition Council’s Q3 2024 report on the fuel market shows that while fuel prices in Morocco were higher than worldwide prices, companies still lowered prices for consumers. Despite higher fuel imports and taxes, the sector saw increased profits and sales, with nine companies controlling most of the market.
The report revealed that the price reduction for diesel was 27 cents per liter less than the drop in purchasing costs and international prices. As for gasoline, the nine companies applied the full reduction in purchasing costs to the sale price.
In terms of market trends, international prices and costs for both diesel and gasoline dropped during Q3 2024, though with some differences. Diesel costs fell similarly to international prices, while gasoline saw a larger drop—33 cents per liter.
The report also noted a 10.8% increase in fuel imports, reaching 1.7 million tons, although their value decreased by 9.75%. The nine companies accounted for 84% of the total imports by volume and value.
Regarding profits, the gross margin for diesel reached 1.46 dirhams per liter, while for gasoline, it stood at 2 dirhams per liter, reflecting a slight increase from Q2 2024. Additionally, tax revenues from fuel imports reached 7.21 billion dirhams, up 6.6% from the previous year.
Storage capacity rose to 1.56 million tons, with diesel making up 88% of this capacity. Total sales of both fuels increased by 4.8% year-on-year, with the nine companies holding 82% of the market share.
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