The economic crisis in Cuba is worsening and the Communist Party has announced that the price of car fuel will increase almost fivefold in February.
Cuban authorities want to reduce the shortage of motor fuel. Currently in the country, a liter of gasoline costs 25 pesos ($0.20). However, since February a liter of fuel at a gas station costs 132 pesos.
Cuban Finance Minister Vladimir Regueiro also announced an increase in electricity prices. Regueiro also declared that the government will open 29 new petrol stations, where you will only be able to pay in US dollars. Kompartei wants to get more foreign exchange this way.
“The purpose of these measures is to revive our economy,” Regueiro explained
The Cuban economy has been on the wrong path for some time. Kompartei subsidizes many goods in Cuba. Last month, Economy Minister Alejandro Gil announced that the Communist Party would no longer be able to sell fuel at subsidized prices. Gil further explained that car fuel in Cuba is “the cheapest in the world.”
However, economics professor Omar Everleny Perez said that although gasoline in Cuba is at a low level by global standards, compared to the income of Cubans, the price of car fuel is still very high. Perez added that the new pricing policy will affect all of Cuban society.
2024-01-10 14:53:00
the-communist-party-of-cuba-drastically-increases-the-price-of-car-fuel-foreign-country