Drop in international oil, prices at the pump in Morocco follow timidly

The price of oil fell on Friday, following two sessions of increases, under the effect of fears related to global economic growth.

The price of a barrel of Brent from the North Sea, for delivery in October, dropped 1.31% to 95.32 dollars, while that of a barrel of American West Texas Intermediate (WTI) for delivery in September, lost 1.27 %, at $89.35.

Analysts said recession worries will continue to weigh on the oil market, with lackluster data coming out of the euro zone and China.

In addition, gas prices in Europe remained buoyant following a new record at the close the day before.

Thus, the Dutch TTF, the benchmark for natural gas in Europe, had ended Thursday at 241.00 euros per megawatt hour (MWh), historic closing record, and continued to rise by taking 1.61% to 245.41 euros on Friday.

In Morocco, the return of the price of oil to the same levels as before Russia’s invasion of Ukraine on February 24 gives food for thought to calls for lower prices at the pump.

Diesel and gasoline prices fluctuate in mid-August around 14 dirhams/litre and 15 dirhams/litre respectively, following reaching a historic peak of almost 18 dirhams/litre in early July. But Internet users want to return to the price before the crisis, ie 10 dirhams/litre for diesel and 12 dirhams/litre for gasoline.

Share:

Facebook
Twitter
Pinterest
LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.