PETALING JAYA: It was summarised that a family of five will have to fork out at least RM100 extra for cooking oil per year following the rationalisation move by the government.
Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainudin compared the newly priced cooking oils and the price of mineral water and left a statement that essentially meant mineral water is more expensive than cooking oil.
He even did a rough estimation of an average person’s consumption about 1.5kg of cooking oil per month (or RM2.25 per person).
“If it is for a family of five, it will be about RM10 per month and an average of RM100 per year, whereas mineral water they buy and drink everyday exceeds the price of the cooking oil.”
When it hit November, consumers had to pay the market price for bottled cooking oil due to the government’s decision to no longer subsidies the cooking oil. However, the cooking oil that were sold in bags remain at RM2.50 per kilogram.
Many threw out their concerns through social media platforms, after realising that the hike in some of the cooking oil brands were just too much to handle.
And the government had a comeback to the public’s worries; “We have ordered our enforcement officers to monitor and conduct random checks at shops so there will not be any hike in prices.”
Netizens now are in rage over the minister’s rationalisation of how much of oil an average family consumes and comparing it to the price of water. It’s not only families who have to use cooking oil, and we are safely guessing that when he made the deduction he forgot to include restaurants into the equation.
“They compare to high class mineral water”
“Considering a person drink 8 bottles mineral water per day, but 1 bottle of oil can use for one month, so mineral water is more exp!”
“Is that a SOP of Malaysian Ministers to convey message to the public? use your brain la ooiii. Any how, if compare ur intelligent, u still better than 🐷, at least u can talk 🐔 everyday.”
“Show me a bottle of 5kg water that cost as much…cheaper than Mineral water indeed…Pure and utter nonsense.”
Let’s analyse the butterfly effect of the hike in cooking oil price in the most simplest way possible.
Most Malaysians these days, rely on eating outside as a substitute of eating at home due to their hectic working hours and asking them to pick up more side jobs isn’t really helping either.
Restaurant owners also have to earn to make a living, if they charge higher pricing for their food, they loose out on many customers and if they were to absorb the increased price, then it cuts their margins hence workers also get paid lesser and eventually (may) forced them to close down.
Malaysia is known for its food and beverage industry. So if even a handful of these restaurants were to be shut down, it will indirectly affect our economy.
Hiking up prices of essentials or daily necessities will definitely hurt the economy in the long run.
Has anyone thought about hiking up the prices of luxury items? Since rich people can still afford to pay for them anyways, and the not-so-rich people can just opt for cheaper substitutes. It is basically a win-win situation.
What do you think of this whole situation? Does the increase in price of the cooking oil affect you?