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Prices of Fuels Under Scrutiny: Competition Council Intensifies Monitoring Amid Rapid International Fluctuations
The Competition Council announced on Friday a formal statement regarding the enhancement of mechanisms for monitoring the fuel market in Morocco, against a backdrop of a rapid and significant rise in oil prices and their derivatives on the international level. The Council clarified that this initiative falls within its mandate to ensure proper competition, especially in light of the repercussions of escalating geopolitical tensions in the Middle East, which have led to clear disruptions in global supply chains.
As a net importer of petroleum products, Morocco finds itself in a sensitive position amid these shifts, particularly as diesel and gasoline constitute a significant part of national energy consumption. The impacts also extend to derived products, such as plastics, which are involved in numerous economic sectors, broadening the potential repercussions of these fluctuations on domestic prices and production chains.
In this context, the Council has undertaken a series of meetings with fuel distribution stakeholders to implement commitments stemming from previous agreements, which stipulate regular monitoring of international market developments and their transmission to the national market. A clarifying memorandum is expected to be published outlining the conclusions of these consultations, emphasizing the need for local prices to reflect international changes in a balanced manner and within reasonable timeframes, while considering the costs of procurement and storage.
Given the sensitivity of the current situation, the Council has decided to shift its monitoring frequency from quarterly to monthly for diesel and gasoline prices across various distribution stages, expanding the scope of vigilance to include other sectors in anticipation of any unjustified price increases or anti-competitive practices. This approach reflects a desire to maintain market balance and protect purchasing power at a time when concerns are growing regarding the deeper transmission of external pressures into the national economy.
