A 500 percent fuel price hike will soon take effect in Cuba. Photo: YAMIL LAGE / AFP/FileSource: AFPA 500 percent fuel price hike will take effect in Cuba this week, a month later than initially planned, the government of the cash-strapped island nation said Wednesday. The price of electricity will rise by 25 percent from the same date for the country's biggest consumers, he added. Havana had announced a five-fold increase in the fuel price from February 1 as part of a series of measures seeking to cut the communist-run nation's budget deficit. The price for the public transport sector will remain the same, however, and an increase in natural gas prices has been delayed.

Source: Daily Nation February 28, 2024 19:28 UTC