The maximum retail price of cooking oil for the period 8 December 2022 to 7 January 2023 remains at RM6.90 per kilogram, RM13.30 for two kilograms (kg), RM19.60 for 3kg and RM30.90 for 5kg.

The Secretary-General of the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP), Datuk Azman Mohd Yusof, says the price was set based on the average world crude palm oil (CPO) price.

Cooking oil and CPO prices

“This price setting is the result of cooperation from the cooking oil industry which has agreed to keep the maximum price for December 2022 the same as November 2022 even though the average price of CPO throughout November recorded an increase compared to October,” he says in a statement on Thursday.

Azman said, any party that sells above the maximum set price can be subject to action under the Price Control and Anti-Profiteering Act 2011.