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Impact of fuel hike evaluated in Cuba

The Cuban Minister of Finance and Prices (MFP), Vladimir Regueiro, explained today that the increase in wholesale and retail fuel prices will have different impacts in the country.

Speaking on the television program Mesa Redonda, Regueiro said that as regards wholesale prices, work is being done to update the economic-financial plans of the business system and to update the rates of public services, including transportation.

While in the case of retail prices, whose increase is scheduled for February 1, the formation criteria are different, centered on supply and demand conditions.

Regueiro specified that the value will be: Motor B83 of 20 Cuban pesos (CUP) at 114 and at 0.95 dollars ; regular B90 of 25 CUP at 132 and at 1.10 dollars, special B94 of 30 CUP at 156 and at 1.30 dollars; special B 100 of 37.50 CUP at 198 and at 1.65 dollars; regular diesel of 25 CUP at 132 and at 1.10 dollars; and special diesel of 27.75 at 150 CUP and 1.25 dollars.

Referring to the increase in fuel prices, the Minister of Energy and Mines (Minem), Vicente de la O, pointed out that the aim is to eliminate the subsidy to tourism, regulate commercialization and allocate income from sales in foreign currency to acquire more fuels.

Other issues addressed during the program were the 25 percent increase in the electricity bill for consumers over 500 kWh, and liquefied gas.

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