From tomorrow, petrol will cost more than 500% more for Cubans.
The increase of more than 500% (the largest in decades) was scheduled for February, but was postponed after the island's authorities said they had been hit by a cyber attack.
For weeks, long queues of cars have gathered around petrol stations, with residents willing to wait hours, or even days, to fill up before the price hikes take effect.
Meanwhile, increases in water and electricity tariffs have already been announced since March 1st.
Although Cubans generally pay little for gasoline, most of those who work for the state earn less than $20 a month, so even the smallest price increase has a big impact.
But authorities say they have no choice but to pass the costs on to consumers as the Caribbean country faces one of its worst economic crises.
The island needs around 8 million tonnes of fuel, of which only 3 million are produced internally, while the rest must be imported, announced the Minister of Energy and Mines, Vicente La O Levy.
2023 in Cuba ended with a contraction in GDP of between 1 and 2% (still below the 2019 level), while the public deficit this year is expected to reach 18.5%, in the red for the fifth consecutive year.
Cuba's chronic economic difficulties degenerated three years ago into a serious recession due to the pandemic, the tightening of US sanctions and national macroeconomic, trade and monetary policy decisions.
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