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21.16 billion dirhams. This is the turnover achieved, during the third quarter of 2024, by the nine oil tankers monitored by the Competition Council. This represents a drop of almost 5,8% compared to the same period of the previous year.
This data was revealed in the latest report monitoring the commitments made by these oil companies as part of the transactional agreements concluded in November 2023 with the regulator. The operators had signed these commitments following the investigation of the case concerning suspicions of agreement on fuel prices.
As a reminder, the number of operators with provisional approval for the resumption of petroleum products in refineries to carry out the distribution activity is 35. But the reporting is based, above all, on the feedback of information affecting the nine operators concerned by the procedure.
These operators achieved average gross margins of nearly 1.46 dirham per liter for diesel and 2 dirham per liter for gasoline. These levels are “relatively higher” than the averages recorded in the second quarter of 2024, where the margins were 1.21 dirham/liter for diesel and 1.79 dirham/liter for gasoline.
However, according to the Council, they remain “generally aligned with the proportions observed in the first quarter”. This “confirms a compensation dynamic adopted by market operators and corresponding to a catch-up effect between periods of the year,” explains the report.
As usual, the Council looked at the correlation between the variation in international quotations, purchase costs and transfer prices at the national level. The report notes that the market was characterized by a downward trend for both fuels.
Quotes CIF recorded a drop similar to those in purchasing costs for diesel and a relatively larger drop in 33 cents per liter for gasoline. Operators recovered all purchase costs from their sale prices in the case of gasoline. On the other hand, for diesel, the drop in sale prices was 27 cents per liter lower than that of purchase costs and international quotations, indicates the regulator.
-The service station network represents the largest share of diesel and gasoline sales on the national market, representing on average nearly 72% of volume and 76% of overall valueaccording to the same report.
The number of gas stations increased from 3.447 at the end of the second quarter of 2024 3.478 in the third trimester. In other words, 31 new stations have strengthened the distribution network. Among these stations, the nine companies concerned have 2,520 stations, or 72.5% of the total.
The third quarter of 2024 was marked by an increase in the volume of diesel and gasoline imports. The Council estimates this increase at 10.8%, amounting to nearly 1.70 million tonnes. However, this increase was countered by a drop in the corresponding value, i.e. -9.7%, reaching 14.03 billion dirhams year-on-year. The distributors covered by the reporting accounted for nearly 84% of the volume and total value of imports.
Regarding tax revenues relating to these imports, they amounted to almost 7.21 billion dirhamscompared to 6.76 billion dirhams a year earlier, an increase of 6.6%. This improvement was favored by an increase in revenues from the TIC (+510 million dirhams), linked to the increase in import volumes of these two fuels.
The improvements also affect the storage of diesel and gasoline. At the end of September 2024, the total available capacity amounted to 1.56 million tonnes, of which 88% related to diesel. This is an increase of almost 4.2% compared to the level recorded at the end of the second quarter of 2024. The combined storage capacity of the nine companies stands at almost 1.27 million tonnes, or 81% of total market capacity.
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