THE Domestic Trade and Cost of Living Ministry said the government has agreed to maintain the maximum retail price of bottled pure cooking palm oil.  

In a statement issued today, the ministry said the maximum price of bottled cooking oil would remain at RM6.90 for 1kg, 2kg (RM13.30), 3kg (RM19.60), and 5kg (RM30.90) until a date to be announced later. 

The ministry said several proactive measures had been taken by the Madani government to protect consumers from unreasonable price increases. 

 “They include maintaining the maximum retail price for bottled pure cooking oil through the Price Control and Anti-Profiteering (Determination of Maximum Price) Order (No.13) 2023,” it said. 

Parties found charging more than the maximum price could have action taken against them under the Price Control and Anti-profiteering Act 2011, which provides a fine of up to RM100,000 or jail for not more than three years or both, while companies can be fined up to RM500,000 upon conviction. – Bernama, December 8, 2023.