Fuel prices reach new record high in Morocco amid global spike

Fuel prices in Morocco reached a new record high this Tuesday, with both gasoline and diesel rising by 60 cents.

Gasoline is now marked at MAD 17.08 a liter across most stations, while diesel costs MAD 14.93 a liter.

Fuel prices have been on a continuous rise since the global uncertainty resulting from the Russia-Ukraine war, which began on February 24, and has been ongoing for over 100 days.

In addition to the instability in eastern Europe, the remnants of the COVID-19 pandemic and the rise of basic goods is contributing to the unprecedented prices.

The Moroccan government had previously provided aid to transportation professionals, estimated at around MAD 1,5 billion, which covered a total of 180,000 vehicles, starting the first week of April 2022.

The government recently announced it will provide an additional round of financial aid to transportation professionals, depending on the type of vehicle they drive.

When asked about how long the government’s aid to the professionals will last, Government Spokesperson Mustapha Baitas said the government “is keeping a close eye on the developments of fuel prices on the international market, and will stop supplying financial aid when the global situation improves,” refraining from giving specific dates, or the number of aid rounds the government intends to distribute.

“A subsidy of MAD 2,200 has been allocated 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 Transport Ministry’s statement.

“With regard to tourist transport, professionals benefited from financial support of MAD 2,800 for first-class transport buses, MAD 1,400 for second-class buses, and MAD 1,000 for third-class vehicles.”

Recently, the Transport and Logistics Ministry announced the registration process for transport professionals to benefit from additional support, set to begin on Wednesday.

The Ministry explained that this move is part of the decision made by the government during its meeting on June 02, noting that the registration process for obtaining additional support will be via the website mouakaba.transport.gov.ma.