Yellow cakes were prepared using red palm shortening, red palm margarine and a commercial margarine at ratio of 26:15:59 respectively. The cakes were stored at freezer (-18ºC ±3) or refrigerator (7ºC ±3), for three months and three weeks, respectively. Cakes were analysed at day 0 and after one, two, three weeks and months for their storage and oxidative stabilities. Analyses include peroxide value (PV), free fatty acid (FFA), para anisidine value (AV), conjugated diene and vitamin E content. Results showed that cakes stored in the refrigerator, formulated and control, had high initial PV value of 4.65 and 4.04 respectively. The PV of formulated cake increased slightly until week three while for the control cake PV increased until week 2 and started decreasing. The FFA, AV and conjugated diene were higher in the formulated sample. In frozen storage, the control cake had higher PV and conjugated diene value until the first month of storage and started to decrease thereafter. The FFA and AV increased with the increase of storage period. For the formulated cake, all values measured, except for FFA, increased until month three. Vitamin E content was higher in the formulated cake than the control cake for both type of storage, and it started to decrease with increasing storage period.