Categories: World

More than fivefold: Cuba announces a drastic increase in gasoline prices

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The price of gasoline in Cuba will increase dramatically from February 1. The price of a liter of regular gasoline will rise from 25 Cuban pesos to 132 Cuban pesos, Finance Minister Vladimir Regueiro announced on Monday. (symbol image)

According to the official exchange rate, this corresponds to $1.10. From February, a liter of premium gasoline will cost 156 Cuban pesos, more than five times the current price. According to the government, foreign tourists will be able to pay for petrol with foreign currency in the future.

Communist-ruled Cuba is currently experiencing its worst economic crisis since the 1990s. The Caribbean island nation has been subject to an extensive US embargo since 1962.

The government, which subsidizes almost all essential goods and services, announced a series of measures at the end of December to reduce the budget deficit. (SDA)

Source: Blick

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