CPA warns against 'unjustified' hike in prices of products

Muscat: The Consumer Protection Authority (CPA) has warned suppliers of various products about the unjustified hike in prices, which has been brought to its notice in recent times. 'During the authority's continuous follow-up for the goods and services prices whether on local, Gulf, or international level, it noticed that the products in the Sultanate's markets were not affected generally - by the international reductions in prices that happens from time to time such as reduction of energy prices, crude prices in some food and other goods. Whereas, this reduction may not be tangible in the Sultanate's markets like the global markets,' the statement said. Some suppliers justified that they have reduced the prices in conformity with the global prices and then they returned it as it was before reduction. The authority considers this as an unjustified raise and breaching the prohibit decision for raising the goods and services prices number 12/2011. Therefore, the authority would like to coordinate with the Oman Chamber of Commerce and Industry to clarify for the goods and services suppliers to monitor prices and have a database for the goods and services prices in the Sultanate's markets. Therefore, returning the prices as they were before the reduction is not considered as breaching the law in case it did not exceed the original price before reduction.'