The Cuban regime raises the price of gasoline, liquefied gas, and electricity

Editorial from CubitaNOW ~ January 9, 2024 Tuesday

The ruling regime in Cuba announced on Monday afternoon (01/08/24) the elimination of gasoline subsidies for the population as well as liquefied gas, establishing higher rates for the sale of fuel to the state sector and making adjustments at the national level. electricity rate.

The package had already been announced in late December and Cubans were waiting for the infamous Round Table program to learn the details.

On Monday in the televised space, attended by the Minister of Finance and Prices Vladimir Reguero, he clarified that the price of gasoline will increase for the retail sector, which is the population, by adjusting the exchange rate of 1×125 dollars, which can also do. Changes in the coming months.

Its price has also more than doubled for the business and budget sector, which will be considered wholesale prices.

The finance minister warned that those operating passenger or cargo transport services, private, state or cooperative, would buy fuel at wholesale prices. The measures to increase hydrocarbon prices will come into effect from February 1.

Looking at the changes affecting the state’s goods and services companies, the official added that “work is being done on updating the financial economic plans of the business system and updating the public service rates.”

Therefore, an increase in the prices of other products in the country is already expected.

As for liquefied gas, starting March 1, it will be sold at this new updated price (225 pesos) and from the same date the new rate starting at 500 will be applied to residential electricity consumption billing for that month. kwH which in this case will be paid in April.

Regueiro added that the provisions will be implemented gradually, so they will be continuously evaluated to know the effects on both the economy and the population.

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