Smaller bottles of oil hit the £1 price point

Cooking oil is being sold in a new size of bottle designed to hit a £1 price point.

KTC has rolled out 750ml bottles of its vegetable and sunflower oils to pound stores in what it claimed was a first for the European market.

It had been impossible for suppliers to regularly sell bottles at £1 since the cost of oil soared in 2008, said KTC sales director Mike Baldrey.

“Occasionally bottles will be sold at this price on promotion but it has been quite some time since this has happened regularly,” he said.

According to Brand-View, the average price of the cheapest vegetable oil currently available is £1.29 for a one-litre bottle, while the average price of the cheapest sunflower oil was £1.25.