PUTRAJAYA – The price of 5kg cooking oil will drop by 60 sen to RM30.90, effective November 8 (Tuesday) to December 7, from RM31.50, according to the Domestic Trade and Consumer Affairs Ministry.
In a statement today, the Domestic Trade Ministry said the price of a 3kg bottle of cooking oil would be RM19.60 compared to RM19.90, 2kg (RM13.30 from RM13.50), and 1kg bottle (RM6.90 from RM7.10).
It said the new prices were set after the government continued to control the price of bottled palm cooking oil implemented on August 8.
“This price control is imposed following the ‘moveable’ ceiling price method based on the average world crude palm oil price,” said the statement.
The ministry said the action under the Price Control and Anti-Profiteering Act 2011 could be taken against any party selling the cooking oil above the maximum ceiling price.
“Consumers are urged to be the ‘eyes and ears’ of the government by channelling information on violations of the law pertaining to the retail price of palm cooking oil in the market,” it added. – Bernama, November 2, 2022
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