Rabat – A new report by Global Petrol Prices, a platform that tracks retail prices of motor fuel, electricity, and natural gas in over 150 countries, has ranked Morocco among the five African countries with the highest gasoline prices.
Despite a slight dip last week, fuel prices continue to hover well above last year’s rates.
The average price per liter of gasoline in Morocco now stands at MAD 15.46, the equivalent of roughly $1.54 dollars.
The Global Petrol Prices ranking places Morocco in the fourth position among African nations with the highest gasoline prices, trailing behind Central Africa, Senegal, Seychelles, and Zimbabwe, which boast prices of $1.822, $1.643, $1.631, and $1.580 per liter respectively.
Meanwhile, Libya and Egypt offer the cheapest rates on the continent at $0.031 and $0.289 respectively.
Global Petrol Prices’ estimates are based on historical gasoline pricing data from each country featured in the report, updated with current exchange rates and international oil prices. According to the report, the global average gasoline price stands at $1.35 dollars per liter for the corresponding period.
Despite the recent marginal decline, Morocco’s fuel prices remain stubbornly high and were further exacerbated by successive hikes during the summer of 2023.
Read Also: Competition Council to Sanction Fuel Firms for Violating Regulations
Over the past months, the country has taken proactive measures to address the issue of high fuel prices.
In December 2023, the Competition Council, the Moroccan market’s watchdog, announced that oil companies operating in the diesel and gasoline markets would face further sanctions for non-compliance with competition regulations.
The announcement followed a comprehensive evaluation that had revealed alleged anticompetitive practices among nine implicated oil firms involved in the supply, storage, and distribution of diesel and gasoline.
A month earlier, the nine fuel companies had been fined a total of $180 million and had agreed, among other measures, to file regular reports to the Competition Council for the next five years.
The probe was triggered in the wake of a report released in August 2023 that identified several antitrust practices committed by fuel companies in Morocco.
