.92 per liter). The report noted that drivers pay on ... More"/>
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Diesel Prices in Morocco Are Lower than Worldwide Average: Report

Source : | 10 September 2015 |  Economy | 657 views

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Rabat – A new report released on Monday by Global Petrol Prices ranks Morocco among countries where the price of diesel is below the worldwide average (US $0.92 per liter).

The report noted that drivers pay on average $0.84 a liter for diesel in Morocco, which is considerably less than the price paid by drivers in Norway’s capital Oslo, at $1.59 a liter, placing Norway among the top three most expensive countries in the world for the said fuel.

UK leads the list of world’s most expensive diesel at $1.67 a liter, followed by Israel ($1.60).

According to the report, the average diesel price around the world is $0.92 per liter. Yet, there is a substantial difference in prices among the countries studied.

As a general rule, wealthier countries have higher prices while underprivileged countries as well as those that produce and export oil, have significantly lower prices.

Venezuela is considered the least expensive country in the world to fill up diesel, with $0.01 per liter. Venezuela’s government even subsidizes the fuel and therefore Venezuelans pay close to nothing to drive their vehicles.

Libya has the lowest diesel price in the Arab World as it ranked second worldwide with $0.14 per liter, ahead of Saudi Arabia which ranked third with $0.16 per liter.

Saudi Arabia is estimated to account for 20-25% of the world’s oil reserves, topping the charts It is also the highest exporter of oil. Kuwait, which has the world’s fifth largest oil reserves landed fourth with an average of $0.21 a liter. It is followed by Algeria, which despite its inexpensive diesel prices, with an average of $0.22 a liter, has suffered from fuel shortages in recent months as traffickers have been smuggling petrol to crisis-torn Libya.

Qatar came fifth in the ranking, with an average of $0.26 per liter. The Middle Eastern country has the world’s largest per capita production and proven reserves of natural gas.

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