In a statement, its leader Khairil Nizam Khirudin also urged the government to crack down on suppliers who raise the prices of cooking oil.

The group also suggested that the ministry carry out anti-profiteering operations on premises suspected of hoarding cooking oil with the intention of raising the prices.

Recent reports have shown a steep rise in the price of bottled cooking oil, which is now being sold for more than RM30 per 5kg.

Meanwhile, Khairil also suggested that the government come up with a new formula to subsidise cooking oil sold in packages of 5kg and above.

“The government should also introduce subsidies for three to six months for the 5kg bottled cooking oil.”

PN youth also suggested that the government stabilise the domestic supply of cooking oil by balancing the exports with domestic demand.

As a long-term solution, Khairil added that the costs of bottling the oil should also be reviewed by coming up with other packaging alternatives.

“PN youth will bring these recommendations to the relevant ministries as soon as possible so the rakyat’s welfare will continue to be the primary focus of the country’s administration.

“PN youth would also urge consumers to utilise their powers as purchasing consumers to pressure the suppliers, so that cooking oil prices can be reduced, by decreasing demand for a period of time.”

In a brief statement, the domestic trade and consumer affairs ministry in response said it does not control the prices of cooking oil sold in bottles as it was not subsidised, adding that only cooking oil sold in polybags were capped by the government at RM2.50 per kg.

It said the price of crude palm oil has exceeded RM4,200 a tonne compared with RM2,500 previously, which was RM4.30 per kg before processing and bottling.

“This means that the price of crude palm oil before bottling already exceeds RM21 for 5kg. This does not include other costs and profit at the manufacturing, wholesale, distribution and retail stages.”