RM31.50 ceiling price for cooking oil in 5kg bottles from Oct 8

 

Cooking oil sold in 3kg, 2kg and 1kg bottles will be also be capped at RM19.90, RM13.50 and RM7.10, respectively.

PETALING JAYA: The government has further reduced the ceiling price for bottled cooking oil, with the lower prices taking effect from Oct 8.

In a statement, the domestic trade and consumer affairs ministry announced that cooking oil in 5kg bottles will be capped at RM31.50, a reduction from the current ceiling price of RM33.50.

Meanwhile, cooking oil sold in 3kg, 2kg and 1kg bottles will be capped at RM19.90, RM13.50 and RM7.10, respectively.

The new ceiling prices will be in effect until Nov 7.

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

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

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