Fuel Prices to Fall by MAD 0205 Next Week

Rabat – Starting next week, diesel and gasoline prices will drop by MAD 0.205 in all Moroccan gas stations, the Ministry of Energy and Mines released in a statement.According to the same source, the prices of diesel and gasoline have already started to decline from Thursday, February 22. Diesel dropped about MAD 0.12 and gasoline MAD 0.13.Lahcen Daoudi, the Minister of General Affairs and Governance, recently said that prices at the pump in Morocco were “forced to fall,” following the drop of oil prices over the past weeks.   The minister, who closely follows the fluctuations of oil prices on a “daily basis,” noted the decline of the latter from USD 70 to USD 62 per barrel. He also pointed out that prices will remain the same until the end of February.After the liberalization of fuel prices, the ministry launcheda new initiative last September that allows drivers to check the recent fuel price trends at the pump.Daoudi’s solution of showing consumers all available prices will keep them informed by allowing them “to choose the cheapest petrol stations.”The minister insisted the information “must” be available for citizens. However, he stated during a press conference, held in June 2017, that “citizens do not take advantage of the liberalization” of hydrocarbon prices enacted in December 2015.The minister alleged that it was the Moroccan government, rather,that had “not provided conditions for good competition.” He also announced that while distributors can change the price of hydrocarbons, they must alert the ministry before doing so. read more