No increase in gas prices, government

The Moroccan government decided Monday not to increase gas prices, despite the hike in oil-prices in world markets.

The decision was made at a meeting chaired by Premier Abderrahmane Youssoufi on the impact of the hike in international markets on Morocco.

The move costing 107 million dhs ($10.7 million) by the Compensation Fund, says a release of the prime minister department, is meant to alleviate pressure on a drought-stricken agriculture sector and preserve citizens' purchasing power at the eve of the "Aid Al Adha," immolation feast.

The government has thus reacted five times with a total cost of 530 million dhs ($53 million) to pre-empt gas-price hikes to spare purchasing power despite ever-increasing world prices.

At the level of retailers, the two-day strike triggered Monday calling for a more viable profit margin was a total success with 98 percent stoppage, says the federation boasting most of the 1,800 gas stations operating nationwide.

Commenting on the strike, energy and mining minister, Youssef Tahiri said it had no impact on the economy pointing out that on Monday, it was business as usual for 35 percent of retailers in major cities and 100 percent of gas-stations on highways.