Morocco wants to stabilize fuel prices
Morocco is considering measures to stabilize fuel prices on the domestic market after the hike in world oil prices.
Mustapha Mansouri, the minister for trade, industry, energy and mining, said officials were studying ways to ease the effects of the price hike on the national economy.
He also said the government is ready to reconsider the equation making up fuel prices and their taxation.
Officials will meet again to address protests voiced after the government increased domestic fuel prices on Sept. 1. The government said it had delayed the hike several times - at a cost of 2.57 billion DH ($233 million) from August 1999 to August 2000 - to avoid passing on the increased world oil price to consumers.
This year, the government has earmarked 3.2 billion DH (US$ 290 million) in oil subsidies.
Ahmed Lahlimi, a government minister, told reporters officials decided it was necessary to ration energy and resources. –(Albawaba-MEBG)