Commodities May 15, 2026 07:07 PM

Cuba Doubles Pump Prices as Public Stations Stay Closed Amid Fuel Shortage

New retail rates announced but availability in Havana remains uncertain after last international shipment was consumed in early May

By Marcus Reed

Cuba's government announced near-doubling of retail gasoline and diesel prices, but most public filling stations in Havana remained shut and officials have not said when fuel sold at the new rates will be available. The island has received no oil shipments since a Russian tanker delivered roughly 700,000 barrels in late March, a supply Cuban authorities say was exhausted in early May. Motorists report frustration and black market prices have surged well above the official new rates.

Cuba Doubles Pump Prices as Public Stations Stay Closed Amid Fuel Shortage

Key Points

  • Cuba raised official pump prices to roughly $2.00 per liter for premium gasoline and diesel, and $1.80 for regular gasoline, with higher levels replacing previously lower tariffs.
  • Public filling stations in Havana were largely closed despite the new pricing announcement, and the government has not specified when fuel at the revised rates will be available.
  • Sectors likely affected include transportation and logistics, retail fuel distribution, and informal markets, as scarcity has driven black market prices to $8-$10 per liter and prompted private imports by businesses using containerships.

Cuba's authorities unveiled a new pricing schedule for gasoline and diesel on Friday that raises pump prices close to double previous levels, but motorists in the capital found little to no fuel available as most public filling stations remained closed.

The Ministry of Finance and Prices announced this week that the updated retail rates would be published on Friday, describing the change as necessary to reflect the "actual" cost of importing gasoline and diesel. Signs observed at some Havana service stations showed premium gasoline posted at $2.00 per liter, up from $1.30. Regular gasoline was listed at $1.80, versus $0.95 previously, and diesel appeared at $2.00 per liter, compared with $1.10 before the revision.

Despite the new numbers, pumps were not dispensing fuel to the public and the government has not given a timeline for when fuel at the revised prices will be put on sale. Motorists who have been managing with little or no fuel for months expressed frustration at the lack of information.

"Right now, we know nothing," said Roberto Veguet, a Havana taxi driver. "We do not even know where to buy it."

Cuban officials say the country has not received any oil shipments since the Russian tanker Anatoly Kolodkin delivered approximately 700,000 barrels in late March - an amount the authorities characterized as roughly a couple of weeks' supply for the island's population of 10 million. Officials reported that that delivery was depleted in early May.

The government has indicated that future retail pricing could vary based on the identity of suppliers and a range of logistical and market factors - including transportation costs, choice of routes, insurance, associated risks, and movements in international markets.

With official supply constrained, black market prices for gasoline have jumped dramatically. Sources within the local market put illicit prices in the range of $8 to $10 per liter - levels far beyond the reach of most Cubans and much higher than global market pricing.

Some private enterprises have started bringing fuel into Cuba using containerships, paying high sums to secure shipments from the United States and other locations. Those privately imported supplies are generally not offered for public sale, according to observers of the market.

The United Nations has declared the U.S. fuel blockade on Cuba illegal and has said it infringes on the human rights of Cubans.


At present, the announced price adjustments stand as official figures without a public rollout plan, leaving consumers and transport operators to await clarification from authorities while alternate, costly supply channels and black market activity expand in response to the shortage.

Risks

  • Persistent fuel scarcity could disrupt transportation networks and freight services that rely on retail fuel availability, increasing operating costs for taxis, trucking, and other transport-dependent sectors.
  • Escalating black market prices and limited public supply raise economic strain for households and small businesses dependent on affordable fuel, potentially affecting local retail and informal economic activity.
  • Uncertainty over future supplies and price variability - tied to supplier choice, transport routes, insurance, and international market fluctuations - creates volatility risk for markets linked to fuel distribution and logistics.

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