Morocco fuel prices to rise amid global oil market volatility

Fuel prices in Morocco are set to rise starting Wednesday, September 16. According to professional organizations, including the Federation of Service Stations of Morocco, the price of diesel will increase by 0.34 dirhams per liter, while gasoline will rise by 0.27 dirhams per liter.

This increase is driven by high volatility in international oil markets, with Brent crude surpassing $109 per barrel and West Texas Intermediate (WTI) reaching approximately $106. Global supply tensions, geopolitical conflicts in the Middle East, and disruptions to refining facilities in Russia, Ukraine, and the Gulf are cited as primary drivers.

Houcine El Yamani, Secretary General of the National Union of Petroleum and Gas, warned that diesel prices could potentially reach 16 dirhams per liter. He attributed the upward pressure to the strengthening US dollar against the Moroccan dirham, the lack of domestic refining capacity, and the liberalization of fuel prices. El Yamani has called for a return to regulated pricing mechanisms and the revitalization of the Mohammedia refinery to mitigate the impact on consumer purchasing power.