Morocco has ranked among the top five African countries with the most expensive gasoline, according to a recent report by Global Petrol Prices, which tracks fuel costs worldwide.
Despite a slight decrease last week, gas prices in Morocco remain significantly higher than last year. The average price per liter currently sits at 15.46 Moroccan dirhams (MAD), roughly equivalent to $1.54.
This price tag puts Morocco fourth in the African gasoline price podium, following Central Africa, Senegal, and Seychelles.
While the global average gasoline price hovers around $1.35 per liter, Morocco and these other African nations face a much steeper cost.
The report sheds light on the stark disparity in fuel prices across the continent. Notably, Libya and Egypt boast the cheapest gasoline in Africa at a mere $0.03 and $0.29 per liter, respectively.
Morocco’s fuel prices haven’t returned to normal, but there’s optimism for a price correction soon.
Experts believe that diesel prices in Morocco shouldn’t exceed MAD 11.69 per liter, and gasoline prices shouldn’t exceed MAD 12.45 per liter. Any price higher than this represents an unfair profit for fuel distributors.
The Competition Council said in February that it would conduct a quarterly assessment and close monitoring of the fuel market. This will be followed by the publication of data to inform the public. A comprehensive study of the fuel market’s performance in 2023 is also planned.
The Council spared no effort to address past violations in the fuel sector by imposing fines and reopening investigations into “thorny fuel files.” The Council ensured transparency by informing companies of significant price changes.
The fluctuating fuel prices are accompanied by rising energy prices due to geopolitical factors impacting various sectors, such as transportation and production.
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