The Cuban regime declared this Tuesday that starting at midnight on Friday, May 15, the pricing of fuel in foreign currencies will no longer be uniform across the nation.
The Ministry of Finance and Prices issued an official statement indicating that fuel prices in foreign currencies will be adjusted—either increased or decreased—based on the actual costs of each specific operation. This change implies that each service station can set its own prices depending on factors like suppliers, shipping, routes, insurance, and fluctuations in the global market.
The Ministry clarified that moving forward, different retail fuel prices will be displayed at service stations, reflecting the true import costs for each economic actor. Payments will be exclusively accepted in foreign currencies, not in Cuban pesos.
In his weekly program on CiberCuba, economist Elías Amor described the measure as a "typical market-oriented economic shift" and elaborated on its practical effects: drivers will naturally gravitate towards stations with lower prices, allowing those stations to negotiate larger volumes with suppliers and potentially reduce fuel costs further.
"When you open a door to a market economy, competitiveness naturally emerges, along with varying prices and added value," he remarked.
However, Amor warned of hidden motives, stating, "With the Castro regime's decisions, there's always a catch, and in this case, it's evident." He expressed concerns that micro, small, and medium enterprises (MSMEs) managing these stations could be closely tied to state power structures. "This lucrative business won't just go to anyone," he asserted.
The economist further noted that fuel could now be imported from the United States in small containers, signaling an end to reliance on Russian oil shipments. "The era of the Russian oil tanker is over," he stated, referencing a previous donation from Russia.
Amor strongly believes the initiative stems not from the regime but from external pressures: "I'm convinced that this measure isn't the brainchild of the communist regime. It arises from discussions between the U.S. Department of State and Cuban negotiators, urging them to adopt steps toward opening and liberalizing the economy."
Amor's primary concern is that the new MSMEs may end up as "small tentacles linked to GAESA," the opaque military-run business conglomerate that controls about 60% of the Cuban economy and faced new U.S. sanctions on May 7.
"If these MSMEs managing the gas stations are detached from state power, then this development is welcome," he concluded.
The announcement comes amid an unprecedented energy crisis. The informal market price for a liter of gasoline in Cuba surged from between 700 and 1,500 pesos in January 2026 to approximately 6,000 pesos—equivalent to around 12 dollars—by May, while the official dollarized price slightly exceeds one dollar per liter with a cap of 20 liters per person.
Since February 2026, the government allowed MSMEs to directly import fuel for the first time in nearly seventy years, and the United States exported over 11.6 million dollars worth of fuel to Cuba during the first quarter of 2026, with March accounting for 75.6% of that total.
Insights into Cuba's Fuel Price Deregulation
What changes are being made to fuel pricing in Cuba?
Starting May 15, 2026, fuel prices in foreign currencies in Cuba will be deregulated, allowing stations to set prices based on the actual costs of each operation.
What are the potential implications of this deregulation?
The deregulation may lead to competitive pricing, with stations negotiating better deals with suppliers. However, there are concerns about control by state-linked enterprises like GAESA.
How might this impact Cuba's relationship with the United States?
The move could be seen as a response to U.S. pressure for economic liberalization, potentially improving diplomatic and trade relations between the two countries.