Minister of Commerce Muhammad Lutfi | make sure cooking oil with the Highest Retail Price (HET) of Rp11,500 per liter on sale starting today (1/2).
“As of February 1, 2022, we will impose the highest retail price for cooking oil,” Lutfi said at a press conference, Thursday (24/1).
HET of Rp11,500 per liter applies to bulk cooking oil. Meanwhile, Rp13,500 per liter is charged for simple cooking oil, and Rp14,000 per liter remains applicable for premium cooking oil.
The price of cooking oil includes Value Added Tax (VAT).
Previously, or during the transition period, the price of cooking oil was still charged at Rp. 14 thousand per liter. This is done considering the adjustments that will be made by producers and traders of cooking oil.
Lutfi said the government would take firm legal steps for all cooking oil business actors who do not comply with the price regulation.
In addition, he encourages producers to immediately accelerate the distribution of cooking oil and ensure that there is no shortage of stock at the level of traders and retailers.
On the other hand, Lutfi appealed to the public to be wise in buying cooking oil and not to do it panic buying. This is because the government guarantees the availability of cooking oil at an affordable price.
“We hope that with this policy the price of cooking oil can become more stable and affordable for the community, as well as remain profitable for traders, distributors, and producers,” he said.
(mrh/agt)
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