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Morocco: Stocks of petroleum products 'stable' for past 20 years

April 20, 2022 at 10:37 am

A sign sits above an access stairway on the Casablanca oil platform, operated by Repsol SA, in the Mediterranean Sea off the coast of Tarragona, Spain, on Tuesday, June 28, 2016 [Angel Navarrete/Bloomberg via Getty Images]

Morocco yesterday announced that its current stock of petroleum products had been “stable for the past 20 years.”

Energy Minister, Leila Benali, told parliament that the country’s stock of petroleum products was “enough for 30 days,”noting that the latter was the “same throughout the last 20 years.”

Benali pointed out that Morocco was “not oil-producing, which makes it import all its needs of hydrocarbons from abroad.”

“Water and electricity bills did not rise for citizens despite the rise in fuel prices,” she added.

In recent weeks, fuel prices have witnessed an unprecedented rise in Morocco, where the price of a litre of gasoline reached more than 15 dirhams ($1.6), which was reported to have prompted transport sector workers to go on strike.

In March, the government provided one-time financial support of between $100 and $700 to workers in the transport sector to mitigate the effects of high fuel prices.

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