Fuel prices soared again in Morocco, starting this weekend, with both gasoline and diesel exceeding MAD 14.5 a liter.
Gasoline prices in Rabat reached MAD 15.40 a liter, an increase of MAD 1.05, while diesel prices also rose, costing MAD 14.55 a liter, representing an increase of about 25 cents.
In response to an oral question regarding the spike at the House of Representatives this Monday, Minister Delegate to the Minister of Economy and Finance in charge of the budget, Fouzi Lekjaa said that “subsidizing fuel is impossible,” without offering alternative solutions to the meteoric rise.
“Fuel subsidies require a fund allocation of an approximate MAD 74 billion,” he explained, adding that “this rise affects all countries around the world, as a result of two major crises that occurred in only two years, namely the COVID-19 pandemic and the Russia-Ukrainian conflict.”
Lekjaa revealed that the state has spent nearly MAD 7.3 billion during the first four months of the current year to subsidize imported wheat, butane gas, and sugar, a significant increase compared to the MAD 4.2 billion deployed during the same period last year.
The official further explained that the cost of subsidizing butane gas during the period between January and May will amount to MAD 9.2 billion, noting that the expected cost to support the consumption could reach MAD 22 billion, representing an increase of 51% compared to the same period last year.
In late March, the Moroccan government launched a financial aid program for transportation professionals, in light of the rising prices.
According to a statement from the Head of Government, the aid benefited nearly 180,000 vehicles, starting the first week of April 2022.
Transport professionals have been categorized depending on their type of activity and used vehicles, where the government allocated “a subsidy of MAD 2,200 for large taxis, MAD 1,600 for small taxis, MAD 1,800 for double transport vehicles in rural areas, in addition to MAD 7,000 for intercity buses, and MAD 6,200 for urban buses,” according to the same source.
Last month, Government Spokesperson Mustapha Baitas announced that a second round of the transportation aid will be deployed, without providing an amount or launch date.
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