The Minister Of Trade Will Evaluate Oil Prices At The End Of February, Will It Increase?

Oilita (Photo: dock. Antara)

JAKARTA - The Minister of Trade (Mendag) Zulkifli Hasan admitted that he would evaluate the highest retail price (HET) for Oilita at the end of next month.

According to him, evaluations need to be carried out because the implementation of HET of IDR 14,000 per liter has been valid for more than 1 year.

"We will evaluate the price next month, because it's been 1.5 years. Of course we will expand it in February," he said at the Office of the Ministry of Trade, Jakarta, Thursday, January 4.

Furthermore, the man who is familiarly called Zulhas explained that the evaluation would cover various aspects. Including, determining whether the price will remain at HET of Rp. 14,000 per liter or there will be an increase.

"We will evaluate the price next month, at the end of February whether it will still be Rp. 14,000 or Rp. 15,000," he said.

Based on data from the Food Agency Price Panel, the price of simple packaged cooking oil as of January 4, 2024, rose by Rp80 to Rp17,350 per liter for the national retail average price.

Previously, Trade Minister Zulhas said that the plan to increase the price of Oilita must be held a further meeting with the Coordinating Minister for Economic Affairs Airlangga Hartarto.

He said that the price of this Oilita would follow the perkemandangan infaluation in the country. However, Zulhas again said that the price determination must be coordinated with Coordinating Minister Airlangga.

"Indeed, Rp. 14,000 should be. But following the inflation development, we shouldn't have decided yet. We still have to have a meeting with the Coordinating Minister to become Rp. 15,000," said Zulhas.