2023-05-07 13:02:26
Par Zahira Bechari
Soaring fuel prices in Morocco in recent months have raised serious concerns among motorists and economic sectors that rely heavily on fuel use. While the reasons for this fluctuation are manifold, the fuel shortage caused by the suspension of SAMIR’s production is one of the key factors that led to a significant increase in prices in the national market. In this context and given the strong reactions of consumers following the rise in prices, the government has undertaken a number of measures, which firstly concerns controlling fluctuations and then considering a reduction.
The price of fuel is influenced by several economic and geopolitical factors, such as fluctuations in the price of oil on the international market, global energy demand, fuel production and distribution, and government energy policies. In 2023, the recent increase in crude oil prices in the international market is one of the main reasons for the fluctuation of fuel prices in Morocco. Indeed, the price of crude oil has increased due to the post-pandemic global economic recovery, reduced production in some oil-producing countries, and geopolitical instability in some producing countries.
The recent government decision
In addition, the government’s recent decision to reduce fuel taxes has also had an impact on fluctuating fuel prices. In April 2023, the government announced a reduction in fuel taxes, which led to lower fuel prices for consumers. According to figures published by the Ministry of Economy and Finance, the reduction in diesel tax was 2 dirhams per liter, while the reduction in gasoline tax was 1.5 dirhams per liter.
However, this decline in fuel prices did not last long. Indeed, in mid-April, the Société Anonyme Marocaine de l’Industrie du Refinage (SAMIR) announced the suspension of its activities due to financial difficulties. This suspension of SAMIR production caused a shortage of fuel in Morocco, which led to an increase in fuel prices on the national market.
According to the latest figures published by the Ministry of Energy, the increase in fuel prices was 0.9% for unleaded gasoline, 2.6% for diesel and 1.5% for fuel oil. domestic. These price increases were recorded between mid-April and the end of April 2023.
It is important to note that the fluctuation of fuel prices has an impact on the Moroccan economy as a whole, particularly on the transport and logistics sectors which are largely dependent on the use of fuel. Moreover, this situation can have a negative impact on the purchasing power of households, especially those with limited incomes.
In response to this situation, the government has announced the implementation of measures to encourage local fuel production, in particular by developing refining capacities and increasing investment in renewable energies.
It is therefore essential to closely monitor the evolution of the fuel price situation in Morocco and the measures taken to deal with it. Motorists should also be aware of the impact of their fuel consumption choices on the environment and encourage the use of alternative and sustainable modes of transport whenever possible.
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