Cuban dictatorship announces five-fold (500%) increase in fuel prices will go into effect Friday, March 1

From our Bureau of Abysmally Bad News for Citizens of Socialist Utopias with some assistance from our Bureau of Impending Doom

Get ready, comrades. All fuels are about to become unaffordable. The only people in Cuba who will be able to afford it will be oligarchs, kleptocrats, and foreign visitors. You thought things were bad? Well, they’re about to get much worse. You’ve got two days left to enjoy your current awful situation, which on Friday might seem like some sort of paradise you will remember with nostalgia. Lord have mercy. Well . . . come to think of it, as unlikely as it seems, Castro, Inc. might postpone the price hike again. They can do whatever they want and no one can stop them. So tighten your belts and hang on to your dentures. Wild ride ahead.

From Granma Euro-Lite (Reuters)

Cuba`s government said it plans to reschedule an unpopular five-fold increase in gasoline prices for March 1, a month later than initially planned after officials said its systems had suffered a cyberattack.

The problems caused by the late January cyberattack have been resolved, said economy vice minister Mildred Granadillo, allowing the government to move forward with retail price increases at the pump.

Cuba in late December announced a series of measures, including hikes in fuel and public transport prices, which the government says are necessary to narrow a ballooning fiscal deficit.

Critics have attacked the policies as inflationary, ill-timed and lacking incentives for domestic production.

1 thought on “Cuban dictatorship announces five-fold (500%) increase in fuel prices will go into effect Friday, March 1”

  1. If they go through with this, the idea presumably is that the “diaspora” will send the money to compensate for the price hike, but of course everyone in Cuba does NOT have a diaspora connection. Another possibility is an attempt to push even more Cubans to emigrate so THEY can join the “diaspora” as revenue sources.

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