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You could use the with..as construct for opening the url. This way you don't have to remember to close it:

def data_fetch(full_api_url):
    with urllib.request.urlopen(full_api_url) as url:
      return json.loads(url.read().decode('utf-8'))

Defining temporary variables makes the following more readable imho:

def data_organizer(raw_data):
    main = raw_data.get('main')
    sys = raw_data.get('sys')
    data = dict(
        city=raw_data.get('name'),
        country=sys.get('country'),
        temp=main.get('temp'),
        temp_max=main.get('temp_max'),
        temp_min=main.get('temp_min'),
        humidity=main.get('humidity'),
        pressure=main.get('pressure'),
        sky=raw_data['weather'][0]['main'],
        sunrise=time_converter(sys.get('sunrise')),
        sunset=time_converter(sys.get('sunset')),
        wind=raw_data.get('wind').get('speed'),
        wind_deg=raw_data.get('deg'),
        dt=time_converter(raw_data.get('dt')),
        cloudiness=raw_data.get('clouds').get('all')
    )
    return data

Also note that raw_api_dict.get('main').get('temp_max') will fail if 'main' not in raw_api_dict, same as above code. Depending on the API you might want to wrap it in a try..except or use assert(main is not None).

You could go one step further from what @Sisoma Munden proposed, by giving format the data dictionary and using named placeholders:

def data_output(data):
    data['m_symbol'] = '\xb0' + 'C'
    s = '''---------------------------------------
Current weather in: {city}, {country}:
{temp}{m_symbol} {sky}
Max: {temp_max}, Min: {temp_min}

Wind Speed: {wind}, Degree: {wind_deg}
Humidity: {humidity}
Cloud: {cloudiness}
Pressure: {pressure}
Sunrise at: {sunrise}
Sunset at: {sunset}

Last update from the server: {dt}
---------------------------------------'''
    print(s.format(**data))

This permanently adds the key 'm_symbol' to data, but this should be of no consequence, since it is not used elsewhere. If you want to play it safer, copy the dict first and modify the copy.