Gasoline Prices Drop in Cuba
HAVANA TIMES — Cuba lowered the price of gasoline and diesel to consumers this week for the first time since the tailspin of oil prices on the world market in recent months.
The regular gasoline price dropped from 1.20 CUC to 1.10 CUC a liter.
A lower quality product called gasolina de motor also dropped from 1.00 CUC to .90 CUC, reported Juan Suarez for HT.
(1.00 CUC = 1.15 USD)
Just drive down to Key West and hang a left heading straight for El Morro. Pick me up some good cigars, will ya?
Love it!
Griffin: that sounds good. Do you think I can make it from Key West to Havana on half a tank full? Or, should I just take the ferry?
I suppose this was predictable, but you aren’t very good at math are you?
The gas prices in Cuba are per litre. The gas prices you see in Florida are per US gallon. There are 3.78541 litres for US gallon. To convert, just multiply the Cuban price per litre by that factor.
CUC 1.10 per litre x 3.78541 = CUC 4.9967 per US gallon.
Now convert that to US dollars:
CUC 4.9967 x 1.15 = US $5.75 per gallon.
If you think that’s a bargain, go right ahead and drive across the keys to Havana.
Wow, I am driving my car across the keys to fill my tank!
On the contrary, lower oil prices are killing Venezuela.
Not necessarily. There is such a thing as elasticity of demand. When prices go down, demand should go up. It is the “price elasticity of demand” that determines if the fall in price is beneficial to the economy. By the way, Venezuela has the lowest gas prices in the world, roughly 5 cents a gallon. Low gas prices haven’t helped much there.
Low gas prices are good for the economy and good for business.