Actualités Maroc

Moroccan Wholesale Fuel Margins Drop in Second Quarter of 2024

Actualités Maroc
Rabat– Gross commercial margins for the nine wholesale distributors of diesel and gasoline in Morocco in the second quarter of 2024, the country’s Competition Council has reported, adding that the numbers were notably lower compared to the first quarter of the year.

According to the report, operators recorded gross margins of approximately MAD 1.21 (0.12 USD) per liter for diesel and MAD 1.79 (0.17 USD) per liter for gasoline. These margins are lower than those observed in the first quarter, where they stood at MAD 1.46 (0.14 USD) for diesel and MAD 2.07 (0.20 USD) for gasoline, reflecting a decline of MAD 0.25 (0.02 USD) and MAD0.28 (0.03 USD) respectively.

The Competition Council’s analysis revealed that these figures are based on gross commercial margins applied to sales prices, weighted by the market shares of the nine involved distribution companies. The report further highlighted that for diesel, the average weighted gross margins ranged from MAD 1.05 (0.10 USD) MAD to 1.34 (0.13 USD) per liter.

In comparison, the margins for gasoline were higher. They ranged from MAD 1.54 (0.15 USD) to MAD 2.01 (0.19 USD) per liter, with an additional margin of MAD 0.58 (0.06 USD) compared to diesel.

The Council’s report also outlined two distinct periods in the evolution of these margins. The first period, from mid-April to the end of May, was marked by a decline in gross margins—except for a brief uptick in the second half of April. During this period, diesel margins dropped from MAD 1.2 (0.12 USD) to MAD 1.05 (0.10 USD) per liter, while gasoline margins fell from MAD 2.01 (0.20 USD) to MAD 1.54 (0.15 USD) per liter.

However, the second period, covering the rest of the quarter, saw a recovery in margins, with diesel increasing from MAD 1.05 (0.10 USD) to MAD 1.24 (0.12 USD) per liter, reflecting a rise of MAD 0.19 (0.02 USD). Similarly, gasoline margins rose from MAD 1.54 (0.15 USD) to MAD 1.81 (0.17 USD) per liter, an increase of MAD 0.27 (0.03 USD).

This report is part of the ongoing monitoring of commitments made by nine companies operating in the diesel and gasoline market under the settlement agreements with the Competition Council.
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