Domestic Trade Ministry maintains ceiling price of bottled cooking oil

PUTRAJAYA – The maximum retail prices for bottled cooking oil will remain unchanged for the March 8 to April 7 period, according to the Domestic Trade and Cost of Living Ministry.

It said the price for 1kg of bottled cooking oil will stay at RM6.90, 2kg (RM13.30), 3kg (RM19.60) and 5kg (RM30.90), in accordance with the Price Control and Anti-Profiteering (Determination of Maximum Price for Cooking Oil) Order 2023.

“In general, there was a slight increase in the price of crude palm oil in February compared to the previous month.

“However, based on negotiations held earlier, the government and the industry have agreed to maintain the prices of bottled pure cooking oil for this period,” the ministry said in a statement today.

It added that any party 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. – Bernama, March 8, 2023