Ceiling price of bottled cooking oil fixed until May 7

KUALA LUMPUR: The maximum retail price of bottled cooking oil will be unchanged from Saturday (April 8) until May 7, says Datuk Seri Salahuddin Ayub.

The Domestic Trade and Cost of Living Minister said the government was committed to easing the people's burden and ensuring that their preparations during Ramadan and the coming Hari Raya Aidilfitri will not be disrupted by price increases.

He said the ceiling retail price for bottled cooking oil is RM6.90 for 1kg, RM13.30 for 2kg, RM19.60 for 3kg and RM30.90 for 5kg.

This is despite the average price of crude palm oil (CPO) in the world market increasing last month, he told a press conference at the Parliament lobby on Monday (April 3).

"But the government has made the decision not to increase the price of bottled cooking oil.

"This is to protect the people and help those in need especially... during the fasting month and Hari Raya Aidilfitri."

He said the relevant stakeholders had already been consulted with to ensure there are no price hikes for now.

Salahuddin also warned that legal action can be taken against anyone selling bottled cooking oil above the set price under the Price Control and Anti-Profiteering Act 2011.

"Individual offenders can be fined up to RM100,000, or jailed not more than three years or both, while companies can be fined up to RM500,000," he said.

He added that the ministry will continue to monitor any price hike and urged the public to lodge a report if they find any such instances.