Morocco will not raise oil products prices in June

Oil products prices will not be raised in the month of June despite an 11% increase of oil prices in the world market and the US dollar value which went up by 5.6%.

A statement of the Moroccan ministry of industry, trade, energy and mining says the subsidy case will bear 155 million DH in June. An additional 68 million DH will also be earmarked to support prices of the gas.

The ministry recalls that after a small period when international oil prices knew a decline, crude oil started to soar again after OPEC decided to reduce its production quota.