Morocco: towards a lasting drop in fuel prices?

Oil prices have been collapsing internationally since March 2023. Will this downward trend have an impact on fuel prices in Morocco?

While the barrel of Brent and WTI, global crude oil benchmarks, have respectively fallen by 10% (with a quote at $71.06) and 8% (with a quote at $68.16) in the space of a week (September 2/6), in Morocco, “we are far from the summer of 2022, when fuel reached almost 17 dirhams with its knock-on effect on the prices of all products and services,” notes Challengerecalling that “the vertiginous rise in hydrocarbons (oil and gas) at that time, coupled with the drought and the surge in raw materials, had cataclysmic consequences on the purchasing power of citizens and inflation levels.”