Ceiling price for bottled cooking oil unchanged
03/01/2023 (Free Malaysia Today), Kuala Lumpur - The ceiling price for bottled cooking oil will remain the same for the Jan 8 to Feb 7 period although the average price of crude palm oil (CPO) in the world market rose in December 2022, said Salahuddin Ayub.
The domestic trade and cost of living minister said the ceiling retail price for the 1kg 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.
“Anyone selling 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,” he said in a statement.
He went on to thank producers of pure cooking oil for agreeing to maintain the retail prices at the existing levels to help people cope with the cost of living.
Salahuddin encouraged consumers to report errant retailers through the e-Aduan portal or by contacting 019-279 4317, 019-848 8000, or 1-800-886-800.
Details can also be sent to aduan@kpdnhep.gov.my via email, Ez ADU KPDNHEP or the enforcement command centre at 03-8882 6088/6245.