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Holguín Sets New Price for Cooking Oil Amid Surging Informal Market
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In response to public outcry over the skyrocketing costs of cooking oil in retail markets, the municipal councils of Moa and Banes, located in Holguín province, have established a benchmark price of 2,200 pesos per unit for the product this week.
According to Radio Banes' Facebook update, before the municipal intervention, cooking oil prices in Banes had soared to around 4,000 pesos, nearly double the newly set reference price.
Violators in Moa could face product confiscation, forced sales, fines under Decree 30/2021 and Decree Law 91/2024, and temporary business closures for up to three months.
Guantánamo was the first municipality to set this reference price of 2,200 pesos on August 5, setting a precedent that Moa, Banes, and other regions followed shortly thereafter.
"My entire salary has to go toward buying oil, so what do I eat, oil?