Good news for motorists or those coming to Morocco intent on hiring a car comes from Morocco's government who have lowered oil derivative prices between 1.5% and 6% because of the continuing decrease of crude oil prices on international markets.
Maghrebia news site is reporting that Morocco needs to import most of its energy escalated its trade deficit 15.6% in the first eight months of the year. The trade deficit for petroleum derivatives, accounting for 17.8% of total imports, jumped 20.1% due to rising prices of crude oil on international markets.
Earlier this month, the government unveiled a plan to lower prices of oil products if the downward trend on world markets remained in place. The move is expected to reflect positively on Morocco's inflation, which accelerated to 3.7% in August.
Tags: Morocco Fes, Maghreb news
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