In a humorous yet poignant gesture, a Cuban mother posed with a bottle of oil in her hands, highlighting how a basic necessity has turned into a luxury item amidst the island's shortages and skyrocketing prices.
The woman, known on Facebook as Yenia Cubanita Mayea, shared the snapshot on Monday, stating that the moment should be preserved "for the history books."
"I have gold in my hands," she captioned the post.
She added with a laugh, "This will last me two months or more," before asking others if they were facing the same predicament.
The Price of Cooking Oil Soars in Cuba
Her words shed light on the resourcefulness of many Cuban families who are stretching essential cooking items as far as possible due to unaffordable prices. The situation worsened after the Cuban regime lifted retail price caps for five imported goods, including cooking oils, with Resolution 150/2026 in June.
This policy change nullified the 2024 price cap of 990 pesos per liter.
The government defended its decision by admitting that the previous controls failed to rein in inflation and, in some cases, caused goods to vanish from shelves and reappear in the black market. Prices then began to climb at an alarming rate.
Drastic Price Increases Across Cuba
In Havana, the cost of a liter of oil surged to 2,500 pesos and exceeded 3,000 pesos in other areas. Reports from social media indicated that in Sancti Spíritus, prices jumped from 2,000 to 3,000 pesos in just one day.
The crisis continued to escalate through the following weeks. By early August, oil prices had reached 4,000 pesos per liter, with some Cubans claiming it sold for as much as 5,000 pesos in certain locations.
In response to these hikes, local governments reintroduced controls that the national government had previously criticized. Municipalities like Moa and Banes in Holguín set the oil price at 2,200 pesos, clarifying it was not a new cap.
Humor as a Coping Mechanism
Amid this turmoil, humor has become a means for Cubans to articulate the crisis's toll. Alongside Yenia Cubanita Mayea's playful display of her "wealth," another Cuban placed a bottle of oil in a safe, humorously captioning it, "Fight for your dreams."
Understanding Cuba's Economic Issues Through the Oil Crisis
Why has cooking oil become so expensive in Cuba?
The Cuban government removed retail price caps on imported goods, including cooking oils, to address inflation. However, this led to rapid price increases as goods moved to the black market.
What was the original price cap for cooking oil in Cuba?
Prior to the policy change, the price cap for cooking oil was set at 990 pesos per liter.