According to the Global Petrol Prices website, Morocco ranks fourth in Africa in terms of high fuel prices. On 20 May, the price of a litre of petrol was $1.54, putting it behind the Central African Republic, Senegal, the Seychelles and Zimbabwe. What’s more, Morocco is the Arab country with the highest fuel prices, with an average cost of 14.79 dirhams ($1.4) for a litre of diesel and 15.46 dirhams ($1.54) for a litre of petrol.
This paradoxical situation, in which the fall in global oil prices is not reflected in prices at the pump, is causing considerable concern among consumers. The main reason for this is Morocco’s dependence on fuel imports, which means that the country does not benefit from the advantages of domestic production in terms of cushioning world price shocks.
The structure of this price is also striking: 61 percent of these costs come from the international market and 31 percent from taxes. Distribution costs and margins account for 8 percent of the final pump price. Even if the supply gap could be reduced, the impact on the final price would remain partial.
The cost of refining is also a factor, as it does not necessarily follow the fall in crude oil prices, especially with the recent overall decline in refining activity. The report goes on to say that “investment has focused more on renewable energy than on refining.”
High fuel prices have a direct impact on the Moroccan economy, affecting various sectors and leading to a general increase in the price of goods and services. The transport sector is particularly affected, with a knock-on effect on consumers and products. This situation, which weighs heavily on the purchasing power of Moroccans, also affects the country’s economic competitiveness.
Tax policies, which largely determine price differentials between countries, vary widely. In the United States, for example, federal excise taxes on gasoline and diesel differ by 18.4 and 24.4 cents per gallon, respectively. In Europe, the opposite is true, with diesel often taxed at a lower rate than petrol.
MN/ac/lb/as/APA