KUCHING: The war between Russia and Ukraine will certainly affect the prices of crude oil and goods, said federal Domestic Trade and Consumer Affairs (KPDNHEP) Minister Datuk Seri Alexander Nanta Linggi.
“Based on experience, crude oil is often affected whenever there is a conflict (globally).
“(With the crude oil being affected) it will also impact the prices of goods. This is mainly because there are a lot of activities such as trading, production, and others that are closely linked to crude oil such as to generate energy, transportation, logistics, and so on,” he said, adding that so far, the war had yet to affect the country.
He said this at a press conference here on Friday (Feb 25), following a visit to Alpro Pharmacy Satok to inspect Covid-19 Antigen Rapid Test Kits (RTK) and face masks as well as to Al-Aqsa Jewels, Majma Mall to inspect the authenticity of gold there.
Having said this, Nanta reminded traders to not use the war as an opportunity to jack up the prices of goods.
“We will always remind, and reprimand, traders to always be ethical and not to take advantage of a situation.
“However, sometimes these traders increase the price too high due to the increase in the price of oil. But in reality, the war has not had an effect.”
