Local Shoppers Brace For Rising Prices Of Goods
By Rosli Abidin Yahya

Bandar Seri Begawan - A number of village groceries were reported to have downed their business shutters in recent weeks as consumers took precaution by shopping in large supermarkets which are able to absorb the price increases much more than their smaller counterparts.

With benchmark crude now hovering around US$70 a barrel, even affluent local consumers are feeling the pinch and took the necessary saving step by shopping in large supermarkets which they believe could absorb the rising prices by lowering their profits.

Not to mention local consumers who did not mind to take the long and winding road journey to supermarkets at border towns in order to save some money.

"Yes, some groceries at rural areas have closed down for a number of reasons. The rising food prices were more prominent in small groceries while the large supermarkets could absorb them.

"This caused consumers to shop in large supermarkets which manage to absorb the rising prices or by taking shopping trips to border towns," said consumers.

The Sultanate has been very lucky as it is enjoying a windfall from high energy prices even though it heavily subsidises local fuel.

However, prices of food products were much affected as they were mostly imported from nations which felt the pinch of rising oil prices.

Last Monday, the Minister of Energy Pehin Dato Hj Yahya advised Bruneians from all walks of life to get involved in every aspect of energy conservation.

In some countries, utility and transport firms are planning to raise charges, airlines are likely to jack up fuel surcharges ahead of the year-end holidays, and unions are bracing themselves for strikes, layoffs and factory shutdowns. -- Courtesy of Borneo Bulletin

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