MALAYSIANS will have to pay at least 40% more for cooking oil when subsidies are removed tomorrow.

Prices of bottled edible oil sold by the kg will be affected by the subsidy cut

“The prices of cooking oil that were subsidised will go up by more than 40%. This applies to oil sold in 1kg, 2kg, 3kg and 5kg bottles,” a source from a well-known cooking oil manufacturer told The Malaysian Insight.

Mydin Mohamed Holdings Bhd managing director Ameer Ali Mydin confirmed this when he shared the new retail prices of bottled cooking oil starting tomorrow

Ameer said the popular Alif and Saji brands of one kilogramme of cooking oil will see a price hike from RM6.70 to RM9.50 per kg, an increase of 42%.

Other brands such as Buruh will be priced at RM9.45 (41%); Vesawit RM9.40 (40%); and Seri Murni RM9.25 (38%).

For 2kg bottles, Vesawit will cost RM18.25, up 44% from RM12.70;  Buruh RM18.15 (43%); Seri Murni RM18.10 (42.5%); Alif RM18.05 (42%); and Saji RM17.90 (41%).

For 5kg bottles of cooking oil, prices would go up by RM12 to RM13.

Seri Murni oil will retail at RM42.70 (44%); Buruh RM42.60 (43.5%); Alif at RM42.50 (43%); Vesawit RM42.25 (42.5%); and Saji RM42.20 (42%).

The Mydin founder, who is also the Bumiputera Retailers Organisation president, said the stores would sell the items at slightly cheaper prices.

Last week, Prime Minister Ismail Sabri Yaakub said that the subsidy for botttled cooking oil in bottles of 1kg, 2kg, 3kg and 5kg will end on July 1 as it was a temporary measure introduced by the government in August 2021 to help the people during the pandemic.

He said the government spent RM2.2 billion last year and RM500 million in 2020 to pay for the cooking oil subsidy.

The government will from tomorrow only subsidise cooking oil in 1kg poly bags, which are sold at RM2.50 each, compared to its market value of of RM9, to B40 households.

The subsidy was introduced in June 2007. – June 30, 2022.