Current cooking oil prices to remain unchanged until Jan 7
01/12/2022 (The Sun Daily), Putrajaya - The retail prices of cooking oil for the period Dec 8, 2022 to Jan 7, 2023 will remain unchanged said Domestic Trade and Consumer Affairs Ministry’s (KPDNHEP) secretary-general Datuk Azman Mohd Yusof.
The retail price of 1kg cooking oil will be retained at RM6.90, RM13.30 for two (kg), RM19.60 for 3kg and RM30.90 for 5kg.
“The setting of these prices are the result of cooperation from the cooking oil industry, who agreed to retain the ceiling prices for the month of December 2022 just like November, despite an increase in the average Crude Palm Oil (CPO) price in November compared to the preceding month,” said Azman.
Azman said action under the Price Control and Anti-profiteering Act 2011 can be taken against anyone selling cooking oil above the ceiling price and a penalty of up to RM100,000 or jail term of three years or more or both can be imposed while the company found guilty can be fined up to RM500,000.
He said the KPDNHEP would also like to advise consumers to be prudent in their spendings and only buy products that are needed.
Consumers must also serve as the eyes and ears of the government and provide information about anyone who failed to follow the set guidelines.