After three consecutive price cuts, fuel prices in Morocco will increase starting this Thursday. Diesel will rise by 0.70 dirham per litre, while gasoline will increase by 0.38 dirham per litre, according to the National Federation of Service Station Owners, Traders, and Managers.
This price increase brings to an end a series of successive reductions in pump prices. The Federation said it had been informed of the adjustment by one of the Kingdom’s leading fuel distribution companies as part of the bi-monthly pricing revision.
The increase is mainly due to developments in the global oil market, which has been affected in recent days by ongoing geopolitical tensions. Despite a slight decline in crude oil prices on Wednesday, prices remain supported by uncertainty surrounding global supply.
According to Reuters, Brent crude was trading at $83.62 per barrel, while U.S. West Texas Intermediate (WTI) fell to $78.53 per barrel. Markets also reacted to a smaller-than-expected decline in U.S. crude oil inventories, a factor that continues to influence international oil prices.
With this latest increase, Moroccan motorists are seeing fuel prices rise again after several weeks of relative stability.
