Fuel prices in Cuba to rise by more than 500%

The Cuban government announced that they will increase fuel prices by five times due to fuel shortages and financial difficulties.

Starting in February, the price of a liter of gas will go up from 25 pesos to 132 pesos.

The government gives money to many goods to help reduce its debt.

This is the newest rule that is making life harder for Cubans who don’t have much money.

Finance minister Vladimir Regueiro stated that the price of diesel and other types of gasoline would go up by similar amounts. He also said that the price of electricity will go up by 25% for big users in neighborhoods where people live, and that the cost of natural gas will also go up.

Mr Regueiro said the government will open 29 new gas stations that will only take US dollars as payment. This will help the government get enough foreign money to buy fuel from other countries.

“Mr Regueiro said on Monday that these steps are meant to help our economy get better. ”

Cuba’s economy has taken a big hit because of problems caused by the coronavirus, tighter sanctions from the US, and weaknesses in the country’s infrastructure.

Last month, the economy minister of Cuba, Alejandro Gil, said that the government can no longer sell fuel at reduced prices and that it was the cheapest in the world.

Economics professor Omar Everleny Pérez said that even though gas is cheap in Cuba compared to other countries, it’s still very expensive for people who live there because their salaries are low.

He said that the new prices will impact everyone in society.

In a country where not many people have cars, the price of petrol going up makes it even harder for people to afford one.

Cuba relies a lot on things from other countries. For the past four years, it has not had enough food, medicine, or things for people to buy.

The cost of things is going up, and also the prices of basic items are going up. People who work for the government aren’t getting paid more, which makes it harder for people in Cuba to afford things.

The fuel shortage is causing long lines at gas stations, which can sometimes be miles long and make it take a long time to fill up a car with gas. Public transportation has also been greatly impacted.

The government had to cancel Cuba’s May Day parade in 2023 because there were not enough things to do it.