Morocco's competition regulator fines fuel companies $180m
The council said it had reached an agreement with the petrol and diesel companies and their professional groups to pay the fine collectively.
In October 2022, the council had issued a report on dysfunctions in the country's diesel and petrol market, where three companies have 60% market share.
It raised issues relating to price fixing, higher prices compared to international markets and non-compliance with legal provisions relating to storage.
In 2018, the largest fuel distribution company Afriquia, part of a AKWA group, owned by Moroccan Prime Minister Aziz Akhannouch, was hit by a boycott by consumers who claimed it was charging too high prices.
Morocco has been importing all its refined energy products after its sole refiner went into liquidation in 2015.
Source: Reuters
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Go to: https://www.reuters.com/About Ahmed Eljechtimi
Reporting by Ahmed Eljechtimi; editing by Alexandra Hudson and Susan FentonRelated
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