Cigarette prices in the Kingdom of Saudi Arabia have recently stabilized at 5.5 Saudi Riyals ($1.5) per package following a price rise at the beginning of last week. In the previous week, Saudi smokers were paying an extra SR 0.5 for per package, reported Al-Bayan. Some vendors took advantage of market circumstances and increased their prices to seven Saudi Riyals per package. The Philip Morris Tobacco Company in Saudi Arabia fixed its prices at SR 5.5 per pocket, a 10 percent rise compared with the previous price level. Company sources related the price increase to the activities of smaller cigarettes agents. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
