The Moroccan office for foreign exchange indicated that Morocco’s expenses on crude oil imports have reached about DM4 billion, during the first quarter 2005, which reflects about 51% increase in expenses, in comparison to DM 2.68 billion expenses, during last’s year first quarter.
This increase was explained, in particular, by the hike in international oil prices. <i>Yabiladi</i> reports that the average price of an imported ton of crude oil has increased by 30,9%, going from 2.041 DM/T to 2.672 DM/T, and that only in March, the average price of imported ton increased by 44.1%, going from 2.065 DM/T in March 2004 to 2.976 DM/T in March 2005.
