Cuban regime increases the price of gasoline, liquefied gas and electricity

The ruling regime in Cuba announced the elimination of gasoline and liquefied gas subsidies for the population, while also establishing higher rates for the sale of fuel to the state sector and adjustments in the national electricity rate. This package, which had been announced at the end of December, was detailed in a television space attended by the Minister of Finance and Prices, Vladimir Regueiro Ale. The price of gasoline is set to increase for the retail sector, while the cost for the business and budgeted sector has more than doubled. The measures to increase hydrocarbon prices will come into force on February 1st, with an increase in prices of other products in the country expected to follow. Liquefied gas will also be sold at a new updated price starting on March 1, and a new rate will be applied to the billing of residential electricity consumption. These provisions will be applied progressively and will be subject to constant evaluation to understand their impacts on both the economy and the population.