The maximum retail prices for bottled cooking oil will remain unchanged for the January 8-February 7 period even though the average price of crude palm oil (CPO) in the world market rose in December 2022, said Datuk Seri Salahuddin Ayub.
The Domestic Trade and Cost of Living Minister said in a statement that the ceiling retail price for one kilogramme (kg) of bottled cooking oil is RM6.90, 2kg (RM13.30), 3kg (RM19.60) and 5kg (RM30.90).
He said the prices were set under the Price Control and Anti-Profiteering (Determination of Maximum Price for Cooking Oil) Order 2022 using the floating ceiling price method based on the average price of world CPO.
The Minister also warned parties who tried to sell above the maximum price will face action under the Price Control and Anti-Profiteering Act 2011 and is liable to be fined up to RM100,000 or jailed not more than three years, or both, for individuals and fined up to RM500,000 for companies.
At the same the government thanked pure cooking oil producers for agreeing to maintain the retail prices at the existing levels to help people reduce the cost of living.
Salahuddin encouraged consumers to report any breach of law on cooking oil prices by using WhatsApp line 019- 279 4317 or 019-848 8000, e-aduan.kpdnhep portal and Call Centre 1-800-886-800.
