"Cubans Prepare for Economic Turmoil as Gas Prices Skyrocket 500%"

1 min read
Source: Jalopnik
"Cubans Prepare for Economic Turmoil as Gas Prices Skyrocket 500%"
Photo: Jalopnik
TL;DR Summary

Cuba's government plans to raise fuel prices by over 500 percent, with gas prices set to soar to over $20 a gallon in February. The move is accompanied by the opening of 29 gas stations that will exclusively accept U.S. dollars, as the country aims to address its struggling economy and depleted foreign currency reserves. The sharp increase and dollar-only businesses raise concerns about access to goods and services for many citizens, as the Cuban economy continues to grapple with the impact of the pandemic and U.S. sanctions.

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