Cubans Brace for 500% Fuel Price Hike

Cuba's government has announced a 500-percent surge in fuel prices, effective from February 1, as part of measures to address its budget deficit. The cost of regular and premium gasoline will rise significantly, leading to concerns about worsening inflation and economic hardship for citizens. The nation, already grappling with an economic crisis, is experiencing fuel and basic goods shortages, prompting fears of further price increases. The government also confirmed rises in electricity and natural gas prices, as well as adjustments to the exchange rate against the dollar, as it struggles to stabilize the economy amidst the pandemic and US sanctions.