Cuban government temporarily stops fuel sales after new prices come into force

CIMEX announced a temporary interruption of fuel sales in its service centers due to the price change that comes into effect this Friday.

In a note published on his social networks, The state corporation specified that as of 12 in the morning on March 1, marketing was suspended.of fuel in all its service centers.

The statement noted thatThis interruption is necessary in order to "carry out the procedures required for price modification."

The restoration of fuel sales will be carried out gradually in each of the service centers as these procedures are completed, the company concluded.

CIMEX did not anticipate a specific period for the return of sales in its establishments.

This Friday they enternew fuel prices in force, which will be sold in dollars, as well as the new electricity rate for high consumers.

This week the Cuban government ratified thefuel prices that had been announced in January, in addition to the list ofservice centers that will offer that service in USD.

Regarding the new prices, the Minister of Finance and Prices explained that they reflect a“recognition of all costs and expenses incurred from their acquisition, processing and marketing.”

The entry into force of the controversial measures had been postponed since February 1due to an alleged cyber attack which delayed its implementation.

Days later, the Cuban government seemed to backtrack by saying that it would not apply the economic readjustment package.until the conditions created in the country were not there, according to what Cuban Prime Minister Manuel Marrero Cruz stated in a meeting of the Council of State.

However, less than ten days after those statements, it appears that the Cuban government has considered the conditions it expected to have been created and economic measures that sink and devalue the Cuban peso even further have definitively come into force.

An example of them is that the dollar, euro and Freely Convertible Currency (MLC), the three reference currencies in the Cuban informal currency market,woke up this Friday with new record sales figures, which confirms the magnitude of the economic disaster and the unstoppable abyss in which the Cuban peso continues to sink.