Consumer Protection Authority issues statement on prices of goods in Oman

Muscat: Consumer Protection Authority (CPA) has issued an explanation about that prices have not decreased in the Sultanate’s markets.

A statement issued online by CPA said :"The authority noted, through its continuous follow-up of the prices of goods and services, whether at the local, Gulf or international level, that the prices of products in the Sultanate’s markets in general have not been affected by the global price declines that occurs from time to time, including low energy prices and low crude prices in some foodstuffs and other commodities. This decline is hardly appreciable in the Sultanate’s markets, on the par with world markets."

“Some suppliers have justified this by saying that if they reduce prices in line with international prices and then return them to what they were before the reduction, the Authority may consider it an unjustified increase in contravention of the decision to prohibit raising the prices of goods and services No. 12/2011."

"Accordingly, the authority, in coordination with  Oman Chamber of Commerce and Industry, would like to make it clear to all suppliers of goods and services that it monitors prices and has a database of commodity and service prices in the markets of the Sultanate. Therefore, returning the price to what it was before the reduction is not considered against the law if it does not exceed the original price before the reduction." the statement added