As of March 1, new fuel prices and electricity rates have come into effect in Cuba, following an announcement made during a press conference by government officials. The ministers of Finance and Prices, Energy and Mines, along with the vice minister of Economy and Planning and the vice president of Cimex, shared this information with the public through state media Cubadebate.
Mildred Granadillo, first vice minister of the Ministry of Economy and Planning, explained that the new fuel rates, originally scheduled for January 31 but postponed due to a cybersecurity incident, are now being implemented. Vladimir Regueiro Ale, Minister of Finance and Prices, emphasized that these measures aim to address economic distortions and acknowledged the significant impact fuel prices have on the economy as a whole.
Minister of Energy and Mines, Vicente La O Levy, provided insight into the fuel situation in Cuba, discussing supplies, sales, and the postponement of price increases for liquefied gas. The new electricity pricing structure in Cuba includes a 25% increase in the cost per kWh consumed above 500, with a calculator available to help customers estimate their bills.
Regarding the new fuel prices, motor gasoline (B83) will now be sold at $0.95 USD or $114.00 CUP per liter, while regular gasoline (B90) will be priced at $1.10 USD or $132.00 CUP. Regular diesel, the most commonly used fuel in the country, will also see a price adjustment to $1.10 USD or $132.00 CUP per liter. Additionally, special gasoline (B94) and super special gasoline (B100) will now be sold at $1.30 USD or $156.00 CUP and $1.65 USD or $198.00 CUP per liter, respectively. These changes reflect the current exchange rate in the country.