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Wholesale Fuel Margins Hold Steady in Morocco’s Q3 2025, Competition Council Reports

The Competition Council’s latest monitoring report shows that the average gross margin per litre earned by Morocco’s nine major wholesale distributors of diesel (gasoil) and gasoline remained largely unchanged during the third quarter of 2025. Both diesel and gasoline margins stayed close to the levels recorded in Q3 2024, with diesel at 1.48 MAD/L and gasoline at 2.10 MAD/L, highlighting a stable profit environment for fuel wholesalers. The data reveal a gradual decline in diesel margins from 1.61 MAD/L in early July to a low of 1.32 MAD/L in mid‑September, followed by a modest rebound to 1.35 MAD/L. Gasoline margins fluctuated between a high of 2.19 MAD/L in late August and a low of 2.02 MAD/L at the end of September, consistently staying about 0.62 MAD/L above diesel levels.

January 14th, 2026
2 min read
By boursenews.ma

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The Competition Council’s latest monitoring report shows that the average gross margin per litre earned by Morocco’s nine major wholesale distributors of diesel (gasoil) and gasoline remained largely unchanged during the third quarter of 2025.

Overall margins

For Q3 2025 the weighted‑average gross margin was 1.48 MAD/L for diesel and 2.10 MAD/L for gasoline. These figures are virtually identical to the levels recorded in the same period of 2024 (1.46 MAD/L for diesel and 2.00 MAD/L for gasoline).

Diesel (gasoil) margin evolution

  • Early July (first half): 1.61 MAD/L
  • Mid‑September (first half): 1.32 MAD/L
  • End of September: 1.35 MAD/L

The margin fell steadily through the quarter, reaching a low of 1.32 MAD/L before a slight rebound to 1.35 MAD/L at the end of the period – a total swing of about 0.30 MAD/L.

Petrol (essence) margin evolution

  • Peak in second half of August: 2.19 MAD/L
  • Lowest level at end of September: 2.02 MAD/L

Petrol margins stayed higher than diesel, with an average differential of roughly 0.62 MAD/L. The quarter can be split into a modest upward phase (2.11 MAD/L in early July to 2.19 MAD/L at the end of August, +0.08 MAD/L) followed by a decline to 2.02 MAD/L by late September.

Regulatory context

This is the eighth periodic report issued under the transaction agreements signed between the nine distributors and the Competition Council, aimed at monitoring compliance with the profit‑margin commitments made in 2024.

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