Cooking oil, if unsubsidised, would still cost less than the sum a consumer spends on mineral water per day, Domestic Trade, Cooperatives and Consumerism Minister Hamzah Zainuddin says.

Hamzah said this while rubbishing an assertion by Lim Guan Eng (DAP-Bagan) that the rationalisation of cooking oil subsidies would result in an increased expense of RM50 per person per year.

Speaking in the Dewan Rakyat during Minister's Question Time, he said that the ministry estimated that each individual uses only 1.5kg of cooking oil per month.

Based on this, Hamzah said, even if subsidies were removed completely, and cooking oil prices rose to RM4 per kg, it would only amount to a RM2.25 increase in expenses for each individual.

“Whereas the mineral water that they buy and drink every day, the price exceeds the price of cooking oil,” he told the House today.

Hamzah also denied that cooking oil subsidies had been abolished completely, pointing out that Putrajaya still subsidised 1kg polybags of cooking oil at RM2.50.

A 500ml bottle of mineral water is on average sold for about RM1.20, while a 1.5 litre bottle is sold for close to RM3.

At a press conference in the Parliament lobby later, Hamzah said hikes in food prices due to the subsidy rationalisation should be minimal.

For example, he said, it would probably take just half a kilo of oil to cook for five people.

When the costs are spread out, he said, the price increase could be as low as 20 sen.

"Enforcers will go to the ground to ensure that there is no profiteering that causes the people to feel cheated," the minister added.