Saudis angry as Pepsi hikes prices by 50 pct
Snips :DUBAI - A 50 percent rise in Pepsi prices in Saudi has angered customers and prompted the kingdom's government to call on more than 30 soft drink companies to hold off on further price hikes, newspapers reported on Thursday.
Pepsi raised the price of a can to 1.50 riyals ($0.40) on Wednesday from 1 riyal, its first price rise in the country in 20 years, Arab News reported.
Pepsi spokesman Abdullah Olayan told the newspaper: "We kept our prices constant, despite the escalating cost of overhead, labour and raw materials. If we had increased our price at the same rate as official inflation in the GCC, our prices would be much higher today."
Coca-Cola has not upped its prices in the kingdom.
Saudi's Consumer Protection Association (CPA) has attacked the sudden “unjustified” increase, the Saudi Gazette reported, adding that official permission should be granted to soft drink firms before they are allowed to raise prices and even then, price rises should not be more than 10 percent.
That’s priceless MamaD - lol
Maybe we can trade Pepsi for oil ;p Stock up
Thanks for all the other info - I agree the only good terrorist is a dead one.
Glad I prefer Coke.
Your in depth thinking is still sharp that you made this correlation