RM33.50 ceiling price for 5kg bottled cooking oil from Sept 8

 

Cooking oil sold in 3kg, 2kg and 1kg bottles will be capped at RM21.10, RM14.30 and RM7.50, respectively.

PETALING JAYA: The government has decided to further reduce the ceiling price for bottled cooking oil from Sept 8.

According to Bernama, anti-inflation task force chairman Annuar Musa said cooking oil in 5kg bottles will be set at a maximum price of RM33.50, a reduction from RM34.70 currently.

Meanwhile, cooking oil sold in 3kg, 2kg and 1kg bottles will be capped at RM21.10, RM14.30 and RM7.50, respectively.

This new ceiling price will be in effect until Oct 7.

Putrajaya removed subsidies on bottled cooking oil on July 1 but instituted price controls.

Before July 1, the maximum price of RM29.70 was set for 5kg, as well as RM6.70 (1kg), RM12.70 (2kg) and RM18.70 (3kg) bottles.

At present, government subsidies are only provided for cooking oil in 1kg polybags, with an allocation of some RM4 billion for 2022. - FMT