THE maximum retail prices for bottled cooking oil will remain unchanged for the January 8-February 7 period although the average price of crude palm oil (CPO) in the world market rose in December 2022, Domestic Trade and Cost of Living Minister Salahuddin Ayub said.

He said in a statement today that the ceiling retail price for a 1kg bottled cooking oil is RM6.90, 2kg (RM13.30), 3kg (RM19.60) and 5kg (RM30.90).

Salahuddin 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.

“Any party selling above the maximum price will face action under the Price Control and Anti-Profiteering Act 2011 and can be fined up to RM100,000 or jailed not more than three years, or both, for individuals, and up to RM500,000 for companies,” he said.

The minister added that the government thanks pure cooking oil producers for agreeing to maintain the retail prices at the existing levels to help reduce the cost of living.

Salahuddin encouraged consumers to report any breach of the law on cooking oil prices by WhatsApp at 019- 279 4317 or 019-848 8000, through e-aduan.kpdnhep portal, or by contacting the call centre at 1-800-886-800. – Bernama, January 3, 2023.