Fuel prices are set to climb at several service stations across Morocco. With the fourth hike within this month, both diesel and gasoline will see a surge in their costs.
Diesel prices are slated to exceed 12 dirhams per liter following a 75-cent uptick, while gasoline will reach 15 dirhams per liter after a 15-cent increment.
Afriquia is planning to boost the price of regular gasoline by 0.76 cents, aligning it with the increase in premium fuel costs. Simultaneously, Shell is intending to raise the selling price of gasoline at its refueling points by 0.47 cents.
Morocco ranks as the second-largest African nation in terms of procuring Russian oil as of August 2023, having imported a volume of 68,000 metric tons, as reported by Refinitiv Eikon.
Despite the substantial flow of gasoline imports and the maintenance of Morocco’s Russian oil supply chain, fuel expenses within the country have persisted in their upward trajectory.
In defiance of the European Union’s sanctions on Russia, Morocco continued its unabated imports of Russian petroleum products post the February 5th imposition. Morocco has become a prominent replacement market for these goods, particularly focusing on Russian petroleum, primarily gasoline.
Although Moroccan fuel distribution enterprises are reaping the benefits of economical Russian gas, the costs at gas stations are currently rising at a rate disproportionate to the low purchasing rate of oil.
Concurrently, various organizations are critiquing the government for its inability to curtail the escalating gas prices.
The Competition Council of Morocco initiated an inquiry into the practices of nine fuel retail companies on August 3rd, responding to allegations of market manipulation. Observant motorists have noted a consistent and minimal variance in pump prices across different establishments.
This situation traces back to February 2020 when the Competition Council imposed penalties on the top three gasoline vendors for engaging in price collusion: TotalEnergies Marketing Maroc, Shell distributor Vivo Energy, and Afriquia.
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