The price of diesel has for the first time exceeded gasoline's
Soaring fuel prices overshadow Ramadan mood in Morocco
Moroccans welcome the Muslim holy month of Ramadan with skyrocketing fuel prices despite the fall of crude prices in the last four weeks.
Monday 04/04/2022
The price of diesel has for the first time exceeded gasoline's
RABAT - Moroccans welcomed the Muslim holy month of Ramadan with skyrocketing fuel prices driven by Russia's invasion of Ukraine.
Officials from the energy, hydrocarbon and electricity sectors were summoned to parliament at the request of some opposition political parties for a working session on soaring prices of hydrocarbons.
The opposition parties explained that the surge in the price of hydrocarbons had constituted “another blow to the purchasing power of Moroccans,” which has already deteriorated due to the high prices of a certain number of foodstuffs in addition to the low rainfall and the vestiges of the COVID-19 pandemic.
“This negatively affects the economic and social situation of a large part of Moroccans,” wrote the opposition parties in the request addressed to the President of the Commission.
The price of tomatoes ($0.92 per kilo), which are an essential component of the traditional soup called “harira” mostly consumed among Moroccans during their iftar, is still high despite Morocco’s decision to trim tomato exports to Europe.
Morocco's central bank said that the inflation rate could reach a 14-year high of 4,7% by the end of 2022, mainly to the impact of the Russia-Ukraine conflict on global energy prices.
The government said March 14 it planned to start subsidising diesel fuel benefiting transport professionals in a bid to mitigate the impact of the soaring fuel prices on the citizens' purchasing power.
The planned $206 million subsidy came after truckers and taxi drivers staged multiple protests.
But scores of Moroccans took to social media to denounce the soaring fuel prices despite the fact that crude prices have fallen by almost 20 percent in the last four weeks.
“In Europe, prices are decreasing daily while in Morocco they are always rising, notwithstanding the huge difference in minimum wages and despite a continuous fall in the price of oil barrel in the international market,” wrote Jalil Ben in the popular Facebook group “Save Casablanca.”
“It is expected that tomorrow or the day after tomorrow another rise in fuel, especially diesel, which exceeded the price of gasoline,” he added.
