The Government's projections to correct distortions and re-boost the economy during the year 2024 have been designed with comprehensive criteria and will be applied when the conditions are created

, studied the differentiated treatments for the sectors and people who require it, and with the premise of creating a favorable environment for economic growth, development and the process of socialist construction.

Among the projections is the one referring to the need to 

update fuel prices.

The shortage of financing, the sustained increase in fuel prices in the international market together with the direct effects on the national economy of the economic, commercial and financial blockade imposed on our country by the government of the United States of America, which limits Cuba's insertion into the world market and consequently access to products, raw materials and inputs necessary for the development of the economy, have made the acquisition of fuel difficult, with a high impact on the productive sector.

Agreement 9811 of the Council of Ministers, of January 24, 2024, published in the Extraordinary Gazette 10,

puts into force, as of March 1, 2024, the retail prices in Cuban pesos and in dollars of fuels sold in service centers.

The standard specifies that non-state forms of management,

FGNE, that provide passenger and cargo transportation services, through a Transportation Operating License, acquire fuel for the exercise of these activities at the wholesale prices established by the Ministry of Finance. and prices.

The update of the fuel prices purchased by the population, both in CUP and in USD,

are correlated considering the official exchange rate of 1 dollar equivalent to 120 Cuban pesos.

All costs and expenses incurred from the acquisition, processing and marketing of fuels are recognized.

Among the objectives of updating retail fuel prices are to encourage savings and adjustment in consumption, while enabling their sale in foreign currency should contribute to improving the conditions for their replenishment.

Another impact caused by the sustained growth in fuel prices in the international market is transferred to the costs of the Electrical Union to guarantee electricity generation in Cuba, for which

more than 36 billion euros are subsidized from the State Budget. pesos, with the aim of not transferring it to the residential sector.

With the premise of causing savings and not subsidizing the waste of electrical energy, electricity rates for the residential sector are increased by 25%.

This projection comes into force as of March 1, with the publication of Agreement 9810, of January 24, 2024, of the Council of Ministers in the Extraordinary Gazette 10.

The increase in the electricity rate impacts customers of this service who consume more than 500 kWh per month.

According to the statistics and actual behaviors recorded by the Electrical Union for 96% of customers in the residential sector (population), the electricity rate does not vary, taking into account their current consumption (below 500 kWh).

  • In PDF, Official Gazette

See also

New fuel prices: Rates, service centers in USD, payment methods and where to acquire the cards