Home Finance & Business Morocco moves to stop price chaos as fuel costs hit drivers hard

Morocco moves to stop price chaos as fuel costs hit drivers hard

The Moroccan government says it will give new financial help to transport workers to deal with rising fuel costs.
The Moroccan government says it will give new financial help to transport workers to deal with rising fuel costs.

The Moroccan government says it will give new financial help to transport workers to deal with rising fuel costs.

In a statement on Tuesday, the prime minister’s office said the plan is similar to one first used in March 2022 when fuel prices went up sharply worldwide.

The government said the cash support is meant to help drivers and transport companies cope with higher costs. It also aims to keep prices stable for consumers and make sure goods continue to reach markets without disruption.

Officials added that the move will help keep transport services running normally, including travel for passengers.

Transport workers can apply for the support from Friday, 20 March, using a dedicated website. They will also be able to track their applications online.

The support covers several groups, including truck drivers, bus operators, taxi drivers (both small and large taxis), rural transport services and tourist transport.

The decision follows a new rise in fuel prices on Monday. Diesel went up by about two dirhams per litre, while petrol increased by 1.44 dirhams.

Diesel now costs around 12.90 dirhams per litre, while petrol has passed 13.95 dirhams in some places.

This is part of a policy the government started in 2022 to deal with rising global fuel prices.

Since then, several rounds of support have been given, costing more than five billion dirhams in total.

Instead of bringing back broad fuel subsidies, Morocco has chosen to give targeted help to certain sectors.

The government says the goal is to support transport workers while also keeping the wider economy stable.

Transport costs affect the price of many goods, especially food. If transport becomes more expensive, prices in shops often go up.

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