Moroccan government lowers fuel prices

14/01/2007

Morocco’s government lowered oil derivative prices up by 9.5% on Saturday (January 13th), following the continuing decrease of crude oil prices on international markets from $60 per barrel to an average $55 in the first 10 days of January.

Premium diesel fuel has decreased by 2.4% to 10.25 dirhams per litre, while regular diesel fell by 3.3% to 7.47 dirhams. The biggest decrease is seen in industrial fuel, down 9.5%. The government's compensation fund will keep subsidizing normal diesel prices up to 640m dirhams annually, a ministry of economy statement said.

On Friday, Moroccan Economy Minister Rachid Talbi El Alami told TVM that the move aims to sustain the citizens’ purchasing power. (MAP)

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