A cosmeceutical formulation is provided that includes a mixture of a refined, bleached, deodorized (RBD) palm oils and red palm olein. The resulting formulation is a homogeneous blend with a considerable shelf life. The formulation may be a cream, lotion, sunscreen, or a soap and may be formulated to include additional beneficial oils and EFAs. If a cream formulation is desired, RBD palm stearin is the preferred palm oil for producing a creamy texture. If a lotion is desired, RBD palm oil may be used and chemically modified to produce a tailored oil with a desired melting point and consistency. The formulation may be used to treat a variety of skin conditions including adverse and age-related skin conditions or as an effective moisturizer for the prolonged maintenance of ordinary skin.