Cuba cooking oil prices surge amid removal of retail caps

Cooking oil prices in Cuba have surged dramatically, transforming a basic necessity into a luxury commodity. Following the government's decision to lift retail price caps on imported goods via Resolution 150/2026, prices for a liter of oil have climbed from previous controls of 990 pesos to as much as 4,000 or 5,000 pesos in some regions.

The Cuban government stated that previous price controls failed to curb inflation and contributed to goods disappearing from shelves and appearing on the black market. In response to the volatility, some municipalities, such as Moa and Banes in Holguín, have attempted to reintroduce local price controls.

Social media users have turned to humor to cope with the economic crisis. Viral videos and posts feature individuals treating bottles of oil as high-fashion accessories or “liquid gold,” highlighting the scarcity and the extreme financial burden placed on Cuban families.