Energy Markets
Cuba sets new variable fuel prices in response to the US blockade that is squeezing supply
The Ministry of Finance and Prices announced on Tuesday that Cuba would introduce variable fuel prices at the pump starting May 15, to reflect "actual" import costs of gas and diesel in the face of an ongoing U.S. blockade. Fuel has been scarce for two weeks straight in state-run stations in Havana due to the U.S. fuel blockade, which has led to strict rationing. Cubans are forced to park their few gas-powered cars after the shortages. This comes four months after U.S. president Donald Trump threatened to impose tariffs on nations exporting fuel to Cuba. Cuba's government stated that some...