December 2, 2022

Moroccans are waiting for new price tags at gas stations; Figures released internationally point to the possibility of a dirham to two dirham cut in fuel prices, reducing the high bill Moroccans have paid in recent months.

Experts who spoke to Hespress expect gasoline and gasoline prices to fall over the next two weeks to at least below AED 14.5, about AED 1 or more, pending news of further declines.

Economic speculation tends to fix the average price of a barrel of oil at $80 or $90 for the next year, but the failure to reflect this issue in the national market is drawing sharp criticism from large segments that dismiss “outrageous profits” for companies.

Despite falling global oil prices, fuel prices are still on fire in Morocco, where the price of petrol at some gas stations has topped AED 15.64 and premium unleaded petrol has reached AED 15.80 per litre.

Economist Rachid Djedri said Morocco was worried about the decline in relative terms, stressing that in the absence of refineries, Morocco imports its oil in its pure form, rather than crude, as it did before 2015. He said: “Recently, there has been a lot of demand in the refining market, which has led to a high cost of refining, as sometimes it reaches four dirhams per liter of gasoline.”

Jadry added that the Competition Council also confirmed this fact with the lack of correlation between crude oil prices and end selling prices, stating that “one of the biggest enemies of the global economy as a whole is a lack of clarity of vision and this is what we have been experiencing since 2020 “.

On the other hand, many countries have recently tightened their monetary policy by raising interest rates through their central banks. Thus, it is expected that the world will know about the beginning of the economic recession in the coming year. Accordingly, a decrease in demand for petroleum products is expected.

Mustafa Labarque, an energy economist, said that fuel prices are expected to drop starting at one dirham, explaining that this is primarily due to lower demand for these energy resources due to the economic downturn in many countries. .

He added to Barq in a statement to Hespress that, despite this fact, it is difficult to predict the future course of hydrocarbons, especially since the OPEC + organization will meet on the fifth of next month, given that prices can decline for two weeks. , after which all scenarios are possible.

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