RABAT, Morocco (AP) Morocco trimmed subsidies Monday on gasoline and diesel as it tries to get its public finances into shape.
Much of this low income kingdom of 32 million relies on subsidies to survive, raising fears that cutting them could spark social unrest the former junior coalition partner in the government is trying to mobilize support against the reduction in the subsidies.
This is the second time the moderate Islamist Party running the government has had to cut fuel subsidies since it was elected in late 2011. There was little popular outcry when it first did it in 2012.
Minister of General Affairs Najib Boulif said that the price of gasoline would now be 12.77 dirhams per liter ($5.76 per gallon), an increase of 0.59 dirhams, while diesel had risen to 8.84 dirhams per liter, up by 0.69 dirhams.
The prices will be reassessed twice a month and adjusted according to the price of oil on the world market.