Posted on 01/11/2024 8:25:06 AM PST by dynachrome
The government of Cuba has announced a 500% increase in fuel prices beginning on February 1, as the nation suffers its worst economic crisis since the 1990s, with Cubans now readying themselves to weather what is being called a humanitarian crisis.
The Cuban government can no longer manage a massive subsidy campaign that puts subsidized prices on nearly all essential goods and services. “The country can not maintain the price of fuel, which is the cheapest in the world,” media cited Economy Minister Alejandro Gil as saying on Monday.
Officials confirmed on Monday that the cost of one liter of regular gasoline would increase from the current 20 cents to $1.10, while special gasoline would increase from around 25 cents to $1.30.
Additionally, there will also be a 25% increase in electricity prices along with a hike in natural gas prices. Prices for water, public transit and gas canisters will be increased.
(Excerpt) Read more at oilprice.com ...
“The fuel hike increases will bring the cost of filling a 40-liter tank with gasoline to the equivalent of around $23, compared to an average monthly state salary of less than $16. Reuters also reported that the government would open 29 fuel stations that accept payment only in dollars, creating the potential for “privileged access to gasoline”.
We got the same thing here. It just takes longer.
The Cuban government can no longer manage a massive subsidy campaign that puts subsidized prices on nearly all essential goods and services.
“The country can not maintain the price of fuel, which is the cheapest in the world,” media cited Economy Minister Alejandro Gil as saying on Monday.
What happens when they stop?
A lot of Cuban tobacco farmers use oxen as the primary source of transport.
The left turns everything into the Dark Ages.
I’m curious why Russia hasn’t given them all kinds of missiles yet. you know, proxy-war, and all that.
At least you can sleep outside in Cuba, if all else fails.
But....but....at least they have free healthcare.
article from the same source:
Oil demand will continue to set records this year, with global demand growth expected at nearly 2 million barrels per day (bpd) compared to 2023, Wood Mackenzie said in a report on Thursday.
China will account for around 25% of the worldwide growth in oil demand, according to the energy consultancy.
...............................
“Continuous improvements in economic activity, steady manufacturing, and transportation activity mostly in China, Other Asia, and the Middle East, as well as in India and Latin America, are expected to account for the bulk of oil consumption,” according to OPEC.
From the movie “One, Two, Three”:
C.R. MacNamara : Cigarette, cigar?
Peripetchikoff : Here, take one of these.
C.R. MacNamara : Thanks. Hmmm. Made in Havana.
C.R. MacNamara : We have trade agreement with Cuba. They send us cigars, we send them rockets.
C.R. MacNamara : Good thinking. Now, I understand from comrade Mishkin that you guys are very keen on getting Coca Cola into Russia.
Mishkin : Is totally wrong. I did not say we are keen. I said we are mildly interested.
C.R. MacNamara : Nevertheless... .
[coughs]
C.R. MacNamara : You know something. You guys got cheated. This is a pretty crummy cigar.
Peripetchikoff : Do not worry. We send them pretty crummy rockets.
Cigars ain’t bad either!
Communism is essentially like every other dictatorship in that leadership leads a life of wanting for nothing while the masses live lives of subsistence IF they toe the line.
Subsidies pay people not to riot.
The US will run a $1.8 Trillion deficit this year. The $34.1 Trillion debt will be about $37T.
There is nothing special about capitalism. It is an —ism that is described by the behavior of a substance created by the Fed from nothingness.
“the cost of filling a 40-liter tank with gasoline to the equivalent of around $23, compared to an average monthly state salary of less than $16:
Yeah but everybody’s got a college degree!
Who the hell is running things down there? Joe Biden?
“USA not mentioned.”
Except that the United States is producing more oil than any country in history.
I didn’t know Biden also ran Cuba as well
That’s what bicycles are for. Besides, there’s not that many cars in Havana. A lot of them vintage 1950s models.
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