- Reaction score
- 1,709
The Cuban government has announced a five-fold increase in fuel prices as it struggles with shortages and a deepening economic crisis.
It said that from February the price of a litre of petrol would rise from from 25 pesos ($0.20; £0.16) to 132 pesos.
The government, which subsidises many goods, hopes this will help to reduce its deficit.
It is the latest measure making life more difficult for cash-strapped Cubans.
Finance minister Vladimir Regueiro said the cost of diesel and other types of fuel would face similar mark-ups. He also announced a 25% increase in electricity prices for major consumers in residential areas, as well has hikes in costs for natural gas.
www.bbc.com
It said that from February the price of a litre of petrol would rise from from 25 pesos ($0.20; £0.16) to 132 pesos.
The government, which subsidises many goods, hopes this will help to reduce its deficit.
It is the latest measure making life more difficult for cash-strapped Cubans.
Finance minister Vladimir Regueiro said the cost of diesel and other types of fuel would face similar mark-ups. He also announced a 25% increase in electricity prices for major consumers in residential areas, as well has hikes in costs for natural gas.
![www.bbc.com](/proxy.php?image=https%3A%2F%2Fichef.bbci.co.uk%2Fnews%2F1024%2Fbranded_news%2F0AE1%2Fproduction%2F_132258720_gettyimages-1252164057.jpg&hash=f4201246123ff947f56ee77b7db27cad&return_error=1)
Fuel in Cuba to become five times more expensive
The island is experiencing a crippling economic crisis which has already driven thousands to emigrate.
![www.bbc.com](/proxy.php?image=https%3A%2F%2Fwww.bbc.com%2Fbbcx%2Ffavicon-32x32.png&hash=0f0fd83e115580139441e88d98a8ed5d&return_error=1)