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Cuba to raise fuel prices and electric tariff in 2024

Havana, Dec 20 (Prensa Latina) Cuban Prime Minister Manuel Marrero announced today a raise of fuel prices and an increase in electricity rates for high-income consumers in the residential sector, among other measures for 2024.

During the Second Ordinary Period of Sessions of the 10th Legislature of the National Assembly of People’s Power (parliament), the head of government explained that the modifications in fuel costs will take as a reference the sale price in dollars in the region and will apply the official exchange market rate of the Caribbean country.

Likewise, he proposed that a network of service centers will be set up to collect fresh currency, under the premise of avoiding negative impacts on the population.

Marrero stated that the current restrictions to obtain fuel and the increase in its demand have had an impact on the difficulties in supplying the necessary quantities to vital sectors of the national economy and the people.

Among the measures to be taken next year, he also mentioned the application of new tariffs for passenger transportation services.

In addition, he announced that there will be a 25% increase in the electricity tariff for the residential sector for high consumers as a mechanism to contain the demand when the variation in the international prices of fuels directly impacts on an increase in the generation costs.

He specified that the measure will only affect those who use more than 500 kilowatt-hours and that, at present, 94% of households consume less than 300 kilowatt-hours.

Also with respect to electricity, he announced that the non-State-owned companies that perform their activities inside the home will be charged a tariff for the non-residential sector, replacing the current one.

He also announced that the tariff for the population with non-metered water supply will be increased from seven to 21.24 Cuban pesos, with the purpose of stimulating the saving of this resource.

According to Marrero, the State Budget subsidizes the difference between the commercialization rate and the cost per cubic meter of water, which amounts to more than 900 million pesos this year.

There will also be a change in the prices of liquefied gas, with increases in the retail cost of 10 kg cylinders, from 180 to 225 pesos, and 45 kg cylinders, from 810 to 1,14 thousand pesos.