The nine dominant companies in the fuel market in Morocco recorded average gross profit margins of 1.48 dirhams per liter for diesel and 2.10 dirhams per liter for gasoline during the third quarter of 2025.
According to the Competition Council, these levels are almost similar to those recorded in the same period of 2024 (1.46 dirhams for diesel and 2.00 dirhams for gasoline), reflecting a relative stability in commercial margins despite fluctuations in international prices and quantities.
Furthermore, the third quarter of 2025 saw a significant increase in the volume of diesel and gasoline imports in Morocco, with a rate of 12.4 percent, equivalent to approximately 1.91 million tons.
Despite this notable increase in quantities, the total value of imports experienced a slight decrease of 1.3 percent, reaching 12.73 billion dirhams compared to the same period of 2024. These figures come according to a report on the execution of commitments issued by the Competition Council, which focuses on monitoring the wholesale fuel distribution market.
The nine companies involved in the report accounted for about 82 percent of the total imports, both in terms of volume and value, reflecting a significant concentration in the market structure.
Increase in tax revenues despite declining value
The tax revenues associated with diesel and gasoline imports (internal consumption tax and value-added tax) rose significantly, reaching about 7.83 billion dirhams during the third quarter of 2025, marking an increase of 8.6 percent compared to the same period in 2024. This increase is primarily attributed to the rise in import volumes, especially diesel, which constitutes the bulk of national consumption.
Despite the decline in the total value of imports (due to a relatively lower benchmark international price), the increase in quantities has clearly bolstered tax revenues, highlighting the importance of the internal consumption tax as a main source of public revenue in this sector.
Price developments for diesel and gasoline during the third quarter
Prices experienced varied developments during the second half of summer:
- Diesel: Purchase costs increased by about 0.21 dirhams per liter, and this increase was nearly fully reflected in selling prices, which rose by about 0.18 dirhams per liter.
- Gasoline: Purchase costs decreased by about 0.10 dirhams per liter (negative), and selling prices fell by about 0.13 dirhams per liter, reflecting a relatively consistent transition of cost changes to the final consumer.
This moderate transition demonstrates the sensitivity of the national market to international developments, with profit margins remaining relatively stable.
Storage capacity, sales, and market players
- The total available storage capacity reached 1.57 million tons by the end of September 2025, stable compared to the previous period.
- The nine companies monopolized about 1.27 million tons, accounting for 81 percent of the total capacity in the market.
- The number of players in the distribution sector increased to 39 by the end of September 2025 (up from 38 at the end of June), indicating a new player entering the national market.
- The total sales volume of the nine companies was approximately 1.98 billion liters, an increase of 4.2 percent compared to the same period in 2024 (1.90 billion liters).
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