PUTRAJAYA – The Ministry of Domestic Trade and Cost of Living (KPDN) in Malaysia announced today that there will be no changes in the maximum retail price of bottled pure palm cooking oil for the period of November 8 to December 7. This decision is part of the government’s efforts to mitigate the cost-of-living pressures faced by the public.
According to BERNAMA News Agency, the prices for bottled palm cooking oil will remain consistent with the existing rates. The prices are RM6.90 for a one-kilogram bottle, RM13.30 for a 2kg bottle, RM19.60 for a 3kg bottle, and RM30.90 for a 5kg bottle. These prices are maintained under the Price Control and Anti-Profiteering Act 2011.
The ministry emphasized that this decision reflects the government’s commitment to alleviating the cost of living and addressing the issue of rising prices. The move is designed to protect consumers from any unreasonable price increases in essential commodities.
KPDN also warned that strict action would be taken against any party found to be selling the oil at prices higher than the set maximum. Penalties under the Price Control and Anti-Profiteering Act 2011 include a fine of up to RM100,000 or imprisonment of up to three years, or both, for individuals. Companies found in violation of the act could face fines up to RM500,000 upon conviction.
This announcement is part of a broader strategy by the Malaysian government to stabilize market prices and support citizens in managing their household expenses amid economic challenges.