In Morocco, total imports of diesel and gasoline reached 1.65 million tonnes (MT), for a value of 14.03 billion dirhams (MMDH) in the 2nd quarter of 2024, marking a respective increase of 11.2 % and 15.9% compared to Q2-2023, according to the Competition Council.
Diesel represented more than 88% and gasoline constituted 12% of the volume and value of these imports, specifies the Competition Council in its report relating to the monitoring of commitments made by wholesale diesel distribution companies. and gasoline within the framework of the transactional agreements concluded with the Council.
The number of companies with approval for the import of liquid petroleum products rose to 31 at the end of June 2024, i.e. 2 more new companies compared to the end of last March, reports the same source.
As for the nine distribution companies concerned by the Competition Council’s reporting, they achieved nearly 85% of the volume and value of total market imports during Q2-2024.
More precisely, the volume imports of these companies recorded an increase of almost 6.8% compared to the same period in 2023, going from 1.31 MT to almost 1.41 MT (difference of 89,000 tonnes). In value terms, imports reached MAD 11.96 billion in the 2nd quarter of 2024, an increase of around 12% year-on-year.
The detailed analysis by type of fuel shows that diesel imports showed an increase of around 6.3% in volume (1.23 MT compared to 1.16 MT) and nearly 11.4% in value (10.32 billion dirhams against 9.26 billion dirhams) in Q2-2024.
Petrol imports also increased from nearly 154 thousand tonnes (1.46 billion dirhams) to around 170 thousand tonnes (1.64 billion dirhams) in the 2nd quarter of 2024, an increase of more than 10.3% in volume. and 12.22% in value.
In terms of tax revenue relating to the importation of diesel and gasoline, these stood at approximately 7.19 billion dirhams, compared to 6.41 billion dirhams in the 2nd quarter of 2023.
This progression is due to the increase in revenue from the Internal Consumption Tax (TIC), due to the increase in import volumes (+11.2%).
ICT generated 5.23 billion dirhams (nearly 73% of total tax revenue), up 11% (difference of 518 million dirhams) year-on-year.
As for the value added tax (VAT) on imports, it increased by 15% to nearly 1.96 billion dirhams, thus representing 27% of total tax revenue.
Analysis by type of fuel shows that tax revenues generated from the importation of diesel constituted nearly 83% of total revenues for the 2nd quarter of 2024, or MAD 5.97 billion. Revenues from gasoline imports reached 1.22 billion dirhams, representing 17% of total revenues over this period.
Furthermore, the Competition Council notes that out of the MAD 7.19 billion in total revenue recorded in Q2-2024, the nine companies concerned by this reporting contributed MAD 6.14 billion (85.4% of total revenue ), including 4.47 billion dirhams for TIC and 1.67 billion dirhams in the form of VAT on the importation of diesel and gasoline.
Please remember that the distribution of this third reporting is part of the monitoring of the execution of the commitments made by nine companies active in the diesel and gasoline market, concerned by the transaction agreements concluded with the Council of the competition.
The commitments indicated in the decisions relating to these transaction agreements are seven in number, including in particular the one covered in this report, which consists of the communication, by each of the companies concerned, of a quarterly report allowing the monitoring of the activity supply, storage and distribution of diesel and gasoline.
(With MAP)
