Written by 7:06 pm Economy

High fuel prices affect 93% of Moroccans’ ability to afford basic necessities, says survey

Spread the love

A staggering 93.3% of Moroccans stated that the rise in fuel prices significantly affected their ability to afford basic necessities like food, rent, and bills, while a mere 2.5% of participants reported minimal effects, a new study revealed.

The survey, titled “The Impact of Rising Fuel Prices on the Purchasing Power of Moroccan Citizens,” by the Social and Media Studies Institute (SMS), in conjunction with the National Authority for the Protection of Public Money and Transparency, highlighted the growing concern among Moroccan citizens about rising fuel prices.

95.4% of Moroccans have been forced to reduce spending on non-essential items, asserting the challenges that citizens face, and compelling them to reconsider their spending priorities due to fuel price hikes.

In this regard, 98.8% of Moroccans emphasized the need for government measures to address this concerning situation.

More than half of participants (51.6%) demand price ceilings, which according to the researchers reflects people’s desire to reduce the direct financial burden on citizens.

29.8% of Moroccans support the idea of reinstating support for the compensation fund, indicating a desire to use social support mechanisms to mitigate economic impact., while 10.5% of the participants call for a reduction in fuel taxes.

As to the party that bears responsibility for recurring price increases, the vast majority of participants (66.2%) held the government responsible in the first place, asserting the government’s role in shaping policies and making decisions related to prices.

24% of Moroccans believed fuel companies bear some responsibility for price hikes, while a minority of 1.6% see this as related to the international situation. This suggests, according to the study, that Moroccans do not believe current international events shape local prices.

To cope with fluctuating fuel prices, 51% of Moroccans see that seeking alternative transportation methods is necessary, which according to the researchers could result in a change in their spending habits on fuel.

Approximately 85.4% of Moroccans expressed their willingness to change their driving or travel habits to cope with this situation.

The researchers suggested that this behavioral change could negatively impact the domestic economy and contribute to economic contraction. Thus, implementing measures to alleviate consumer pressure becomes a necessity.

According to the findings, 99.2% of Moroccans confirmed witnessing an increase in their monthly fuel supply costs due to price hikes. However, more than half of the participants do not have a specific strategy to save fuel efficiently.

Visited 1 times, 1 visit(s) today

Spread the love
Étiquettes : , , , , , , , , , Last modified: janvier 19, 2024
Close Search Window