Home » Crisis in Cuba: after delays, the regime confirmed that fuel, water and electricity will increase this week

Crisis in Cuba: after delays, the regime confirmed that fuel, water and electricity will increase this week

by admin
Crisis in Cuba: after delays, the regime confirmed that fuel, water and electricity will increase this week

Long lines formed in Havana, Cuba, as residents rushed to refuel their vehicles ahead of a massive increase in retail fuel prices announced by the Cuban regime. The price hike, originally scheduled for February 1 but postponed, will see regular gasoline prices skyrocket by over 400%.

The unexpected announcement came as part of an adjustment plan aimed at reviving the national economy, which has been in a deep crisis for the past three years. In addition to the fuel price increase, the regime also plans to raise water, electricity, and interprovincial transportation rates.

The measure has sparked concerns among the population, with many fearing an increase in prices across the country. In response to the impending hike in fuel prices, Cubans flocked to gas stations in January, leading to long queues before the regime cited a “cybersecurity incident” and postponed the price increase.

While the increase in fuel prices is set to take effect immediately, the regime has also announced plans to raise water and electricity rates on March 1. The government has assured that vulnerable groups will be supported, although specifics on how this support will be provided have not been publicly disclosed.

Cuba has been facing a chronic fuel crisis, exacerbated by non-compliance from countries that supply crude oil to the island. The regime’s leader, Miguel Díaz-Canel, attributed the crisis to a “complex energy situation,” with Venezuela serving as Cuba’s main supplier of crude oil.

The announcement of the fuel price increase is part of a broader adjustment plan that aims to address distortions in the economy. The plan also includes a potential devaluation of the peso and the gradual phase-out of universal subsidies to pave the way for targeted assistance to those in need.

See also  65%!Thin film silicon photovoltaic cell light absorption rate new record, close to the theoretical limit of 70% - China Powder Network

Despite these measures, Cuba closed 2023 with a contraction in GDP and a significant public deficit. The island’s economic difficulties have worsened over the past three years, due in part to the impact of the pandemic, increased US sanctions, and domestic policy decisions.

With information from AFP and EFE, the Cuban regime’s decision to raise fuel prices has sent shockwaves through the population, raising concerns about the cost of living and the broader economic outlook for the country.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy