In an explosive report, Zineb El Adaoui, president of the Court of Auditors, revealed that repeated increases in fuel prices do not reflect fluctuations in global oil markets. They are mainly linked to internal flaws, notably the weakness of storage infrastructures which only allow an autonomy of sixty days, and the lack of diversity in supply networks.
Morocco suffered a new increase in fuel prices on Friday January 17. A damning report from the Court of Auditors serves as a reminder of the deep structural flaws that plague this strategic sector. In a context marked by a general surge in the cost of living, the practices of the oil lobby, dominated by private interests, continue to weigh heavily on households. Among the major players in this market, the Akwa group, owned by the head of government Aziz Akhannouch, alone holds 60% of the shares.
Uncorrelated increases in international markets
According to the findings of the Court of Auditors, repeated increases in fuel prices cannot be attributed exclusively to fluctuations in global oil markets. The report highlights serious internal dysfunctions: limited storage capacity, allowing only sixty days of autonomy and excessive dependence on a limited number of suppliers. These shortcomings expose the Moroccan market to heightened volatility to the detriment of consumers.
The report also highlights that this situation results from a lack of strategic vision. While the profit margins of players in the sector reach significant levels, few investments have been made to strengthen infrastructure or diversify supplies. Management that the Court of Auditors describes as short-term, neglecting the imperatives of energy security and economic stability.
An unbearable weight for households
-In a country where inflation is eating into purchasing power, continued increases in fuel prices have direct repercussions on the entire economy. The transport and agriculture sectors, which are particularly sensitive to variations in energy costs, are recording price increases which have an impact on essential goods. Households, already affected by a tense economic situation, find themselves caught in an inflationary spiral which worsens social inequalities, a truth exposed in official reports. The conclusions of the Court of Auditors also highlight the absence of effective regulatory mechanisms. Despite the liberalization of fuel prices in 2015, supposed to promote competition and stabilize costs, the market remains dominated by a handful of economic players, thus consolidating a quasi-monopoly situation.
Political responsibilities in question
The position of the head of government, Aziz Akhannouch, owner of one of the largest companies in the oil sector, is attracting growing criticism. Many observers denounce an obvious conflict of interest making any official action to regulate a market that he partially controls impossible. In this context, the silence of the authorities regarding the practices of large oil groups appears as an abdication of their responsibilities towards the Moroccan population.
The report calls for structural reform of the sector, including a significant increase in storage capacities, diversification of supply sources and the establishment of more rigorous control mechanisms. These measures are presented as essential to guarantee a certain social justice and limit the impact of price increases on the most vulnerable.
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