Cuba Raises Gas and Utility Prices to Address Economic Crisis, Drawing Criticism Over Timing

Cuba raised gas prices 5 times overnight to shore up its collapsed economy. Prices now about $20 per tank vs $15 average monthly salary.

Cuba had some of the cheapest gas prices globally, selling it at a major subsidy. Prices increased to reduce fiscal deficit.

The price hikes cover gasoline, public transport, electricity and cooking gas. Critics say it's ill-timed with high inflation.

On March 1st, price rises limited to retail sector. Transportation still subsidized to soften consumer blow.

Cuban resident Luis Collado understands need for price rises but wants corresponding salary increases. Will have to save more and drive less.