Posted 1/10/2024, 7:00:25 PM
Cuba Raises Fuel Prices Over 500% to $20 per Gallon, Accepts Only US Dollars at 29 Stations to Boost Struggling Economy
- Cuba is raising fuel prices over 500% to $20/gallon in February in an attempt to bolster its struggling economy
- 29 new gas stations will only accept U.S. dollars, hoping to generate revenue to buy fuel on international markets
- U.S. dollar is already popular in Cuba, but government wages are in Cuban pesos, potentially locking out access
- Cuban economy struggling due to coronavirus closing off tourism and subsequent sanctions by the United States
- Owning a car already a privilege in Cuba with <10% ownership rates, now even more out of reach with inflation