Cuba lowers gas prices after big increase

Cuba lowers gas prices after big increase
The Associated Press
Monday, December 8, 2008

HAVANA: Cuba is reducing gas prices by as much as 27 percent, citing
falling crude prices worldwide, after raising them by more than 100
percent in September when oil prices were still high.

A liter of regular gasoline is dropping from $1.45 to $1.08, or from
about $5.50 to $4 a gallon. The higher grade "special" brand is falling
from $1.62 to $1.18 a liter, or a little more than $6 to about $4.50 a
gallon.

The new prices were published Monday in Cuban state media.

In September, a liter of regular gas jumped from about 60 cents to
$1.45, when oil was still selling for about $100 a barrel. Still, the
hike was steep considering Cuba receives nearly 100,000 barrels from
Venezuela daily on preferential terms.

http://www.iht.com/articles/ap/2008/12/08/business/CB-Cuba-Gas-Prices.php