JEDDAH: The soaring price of a can of Pepsi-Cola has brought howls of complaint across the Kingdom. As of Wednesday, a can now costs SR1.50, up from SR1, while a 2.25-liter bottle costs SR5 as opposed to SR4 previously. Coca-Cola is still sold at the same price as before.
Many Pepsi drinkers were angry over the steep price hike. “Being used to Pepsi, I cannot just change over to some other brand,” said Ahmed Al-Mohammad, a student at King Abdulaziz University. “I’m upset,” said 26-year-old teacher Lama Abdullah. “Why a 50 percent rise? Are other companies going to raise their products by 50 percent? Basic foods are getting really expensive,” she complained.
Explaining the reason for hiking the price, Pepsi spokesman Abdullah Olayan said that the price had not risen for the past 30 years. It had stayed SR1. “We kept our prices constant, despite the escalating cost of overhead, labor and raw materials,” he said.
“Naturally over the past few years, the increasing costs have put tremendous pressure on the viability of the business, hindering our ability to grow.
“If we had increased our price at the same rate as official inflation in the GCC, our prices would be much higher today,” he added.
“We are proud of the portfolio of Pepsi products we offer, and the enjoyment and refreshment they provide to consumers. We are certain that our products will continue to provide great consumer value, and that our prices will remain very competitive compared to other products in the local market,” he said.
Over 7,200 workers and employees in the Kingdom work for Pepsi. They are based at four main plants.
