June 4 (Bloomberg) -- Morocco raised subsidized fuel prices by about 20 percent for gasoline and 10 percent for diesel, in a move aimed at saving as much as $560 million through the end of the year, the government said.
“The decision to raise fuel prices will allow the state to save 4.5 billion dirhams or 5 billion dirhams ($560 million) over the next seven months,” from a total outlay of 50 billion dirhams for energy, Energy Minister Fouad Dhouiri said in an e-mailed statement today.
The increases raised the price of gasoline by 2 dirhams a liter to 12.24 dirhams while diesel climbed by 1 dirham to 8.20 dirhams, the official Maghreb Arabe Presse agency said yesterday, citing an unidentified government official.
Morocco imports almost all of its oil.
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