Morocco is currently experiencing increasing pressure on its fuel stocks due to the consequences of the ongoing conflict in Iran, which has disrupted navigation through the Strait of Hormuz. This situation has prompted the Moroccan government to reassure local markets regarding the security of supply and the stability of fuel availability. Leila Benali, the Minister of Energy Transition and Sustainable Development in Morocco, stated in remarks attended by the specialized energy platform (based in Washington) that the Kingdom has successfully navigated a series of energy crises since 2021. She emphasized the continued implementation of proactive plans to maintain energy supply security.
The minister's comments come as concerns mount over the implications of navigation disruptions through the Strait of Hormuz, a critical route for a significant portion of global oil trade. The near-total closure of the strait in March led to disruptions estimated at around 20 million barrels per day, marking one of the most substantial supply shocks seen since the 1970s. While the government asserts that sufficient fuel reserves are available, official data and parliamentary statements have revealed a persistent decline in Morocco's fuel stocks compared to legally required levels, coinciding with rising fuel prices.
Decline in Morocco's Fuel Stocks
During a weekly session for oral questions in the Council of Advisors, Benali clarified that the current diesel stock in Morocco is sufficient for 48 days, while gasoline stocks cover over 40 days, alongside reserves of other energy materials consumed within the country. Official figures indicate a continuous depletion of fuel stocks in Morocco in recent weeks; at the beginning of April, the country had diesel reserves for 51 days and gasoline for 55 days, with coal and gas supplies secured until the end of June. This signifies a decline in diesel reserves by approximately three days in less than two months, while gasoline reserves have decreased by nearly 15 days. Moroccan law stipulates the need to maintain a strategic stock of petroleum products covering at least 60 days.
Benali believes that the local market's success in avoiding daily supply disruptions is a sign of Morocco's improved capacity to withstand external crises. She expressed satisfaction upon hearing that Moroccans no longer experience external supply disruptions at the domestic market level. Furthermore, she mentioned that authorities have urged various stakeholders to accelerate the implementation of energy projects and enhance the readiness of ports and supply chains, particularly with anticipated demand surges during the summer of 2026 due to the return of the Moroccan diaspora.
Energy Sector Vulnerabilities in Morocco
The crisis in the Strait of Hormuz has underscored the vulnerabilities within Morocco's energy sector, as the Kingdom relies on imports to meet over 94% of its energy needs, making it directly susceptible to fluctuations in oil prices and refined products in global markets. The situation has been further complicated by the continued closure of the Samir refinery, which once served as a cornerstone of Moroccan energy security, leading the local market to be almost entirely dependent on imported refined product prices.
Efforts to restart the refinery have stalled after a commercial court rejected an Emirati offer of $3.5 billion due to unmet required guarantees, leaving the matter unresolved for now. A recent report from the Institute for Social and Media Studies titled "The Impact of the Geopolitical Crisis in the Strait of Hormuz on the Moroccan Fuel Market in 2026" indicated that persistent oil prices above $100 per barrel could raise Morocco's energy import bill to around 124 billion dirhams by the end of this year. The report highlighted that the recent supply crisis has exposed deep structural imbalances in the Moroccan market, encompassing storage, pricing mechanisms, and the flexibility of supply chains.
Benali's statements did not go without parliamentary criticism, as Hanaa Benkhire, a member of the General Union of Moroccan Workers, argued that Moroccan citizens are feeling the direct ramifications of international crises at fuel stations. She asserted that any external disruption immediately impacts Moroccans' purchasing power, calling for greater transparency regarding profit margins, distribution costs, and the taxation system linked to fuel prices. Meanwhile, Khalihn Al-Karsh, coordinator of the Democratic Confederation of Labor group in the second parliamentary chamber, warned of worsening structural imbalances in the Moroccan fuel market, pointing out that the country sometimes experiences supply disruptions alongside adverse weather conditions.
The debate surrounding the profits generated by distribution companies has intensified, with claims indicating that these profits reached approximately 90 billion dirhams by the end of 2025, suggesting the presence of imbalances that require public disclosure. Al-Karsh connected the rise in fuel prices to the inflation experienced in the country since the onset of the Russia-Ukraine war, urging the activation of Article 2 of the Price Freedom and Competition Law and a return to regulating fuel prices in Morocco to mitigate monopolistic practices and weak competition.
Fuel prices in Morocco have seen an increase again during the latter half of May following a slight decrease at the beginning of the month, amid ongoing geopolitical tensions and global oil prices exceeding $100 per barrel. The new price increase came into effect on May 16, 2026, as follows: diesel prices remained stable at 14.50 dirhams per liter, while the price of premium gasoline rose from 14.4 to 14.9 dirhams per liter. Since the outbreak of the conflict in Iran on February 28, there have been five price increases in the Moroccan fuel market, alongside only one reduction at the beginning of May. The successive increases occurred on March 1, March 16, April 1, April 16, and May 16, while a single price decrease happened on May 1.
The rise in fuel prices coincided with mounting criticisms from the Moroccan Competition Council regarding the mechanism of semi-monthly collective price reviews, which the council believes do not align with competitive market principles. The report from the Institute for Social and Media Studies proposed several strategic measures to alleviate the fuel crisis in Morocco and enhance energy security, primarily addressing the Samir refinery issue, whether through nationalization or attracting a new investor capable of meeting the required guarantees. Additionally, the report called for accelerating the development of storage infrastructure, particularly the Nador West Mediterranean port project, which is expected to provide storage capacities for hydrocarbons reaching 25 million tons, thereby granting the Kingdom greater security margins against global supply shocks. The proposals also included offering tax incentives for purchasing electric vehicles and motorcycles, noting that their market share reached approximately 12.5% in 2026, alongside expanding public charging stations. The report underscored the importance of investing in green hydrogen projects and electrical interconnections to reduce Morocco's reliance on petroleum products and decrease the share of fossil fuels in the national energy mix, thereby enhancing the economy's ability to cope with future geopolitical crises.
As reported by attaqa.net.
