KUALA LUMPUR: The maximum retail prices for bottled cooking oil will remain unchanged for the Jan 8 to Feb 7 period, although the average price of crude palm oil (CPO) in the world market rose last month, says Datuk Seri Salahuddin Ayub.
The Domestic Trade and Cost of Living Minister said the ceiling retail price for 1kg of 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.
“Any party selling above the ceiling price will face action under the Price Control and Anti-Profiteering Act.
“The offender is liable to be fined up to RM100,000 or to serve a jail term of not more than three years, or both,” he said, adding that for companies, the fine is up to RM500,000.
He said the government thanks pure cooking oil producers for agreeing to maintain retail prices at existing levels to help people reduce the cost of living.
Consumers can report any breach of the law on cooking oil prices through the WhatsApp lines at 019-279 4317 or 019-848 8000, the e-aduan.kpdnhep portal or the call centre at 1-800-886-800. — Bernama
