Morocco has been ranked as having the second most expensive price for fuel in the Arab world, according to a new ranking from “Global Petroleum Prices.”
The recent data revealed that gasoline prices in Libya remain the cheapest in the Arab world at USD 0,031 per liter, while Jordan came in the forefront of the most expensive Arab countries, with a price of up to USD 1,749 per liter.
In Morocco, the second in terms of the most expensive Arab countries and the 116th globally, fuel costs upwards of USD 1.746 per liter.
As most listed countries in the Arab world are oil-exporting nations, Morocco’s pricetag is somehow justified. However, the cost of gasoline and diesel remains too high for most consumers despite government assistance and financial aids.
The “Global Petrol Prices” index included data on gasoline prices in 168 countries around the world.
Algeria ranked “the fifth cheapest price in the world,” Iraq ranked 12th globally, while Egypt ranked 17th on the list of the cheapest gasoline prices in the world. .
Globally, Venezuela is the cheapest country in the world, where petroleum products are sold at USD 0.022 per liter of gasoline, while Hong Kong remains the most expensive in the world in fuel prices, according to the same index figures.
The Kingdom of Saudi Arabia ranked 21th globally in terms of the cheapest prices, although it is the country with the largest reserves of crude oil in the world, and is also one of the largest Arab and global producers.
Tunisia ranked 24th, followed by the UAE at 52nd, Sudan at 58th, and then Lebanon at 77th globally, all of which share a high price of gasoline that exceeds the one-dollar mark.
Moroccans’ consumption of petroleum products witnessed a significant increase during the first six months of 2022 compared to the same period in 2021.
The increase in national consumption of petroleum materials, other than gas, during the first half of the current year amounted to 11% compared to the first half of the previous year, and 3% compared to the same period in 2019.
Moroccans, faced with a growing economic crisis, are anticipating fuel prices to drop considering international market fluctuations, which have recently noted a drop in barrel prices worldwide.
The government recently announced a MAD 1 drop in domestic gasoline and diesel prices starting last weekend, but Moroccans maintain their demands for suppliers to drop the prices to the MAD 8 mark, compared to the current MAD 15 average for most stations.
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