Gasoline prices in Cuba will rise by 400% – Kommersant
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Yesterday, January 8, Cuban Minister of Finance and Prices Vladimir Regueiro stated on state television that the price of gasoline will be increased by more than 400% from February 1. Depending on the quality, the price will increase from 25 Cuban pesos ($0.2; this is not the official, but the real exchange rate on the black market) per liter to 132 pesos ($1.1) and from 30 pesos ($0.24) to 156 pesos ( $1.25). Until now, gasoline in Cuba was – in dollar terms – one of the cheapest in the world.
In addition, gasoline will now be sold to foreigners only for dollars. In particular, 29 gas stations in the country will only accept dollars for payment.
These decisions are part of measures taken by the Cuban authorities to reduce the budget deficit and attract foreign currency. Earlier, authorities announced an increase in prices for electricity and gas for some consumers. According to official data, Cuba’s GDP in 2023 decreased by 2%, and inflation was 30%. Cubans also regularly face shortages of food, medicine, fuel, consumer goods, etc.
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