Fuel increase is going to result in "expenditure shift" - economist
At midnight today, South African drivers are set to feel the pinch as the petrol price goes up by a record-breaking R1 per litre.
Dr Iraj Abedian, CEO of Pan African Investments and Research Services, explains what the fuel price means for cash-strapped consumers.
He says there is no South African who is going to be immune to the effects of the increase in fuel prices.
The most important thing is that we have to move around. Whether you are using your car or public transport the fuel price will affect you.Dr Iraj Abedian, CEO of Pan African Investments and Research Services
This means whatever we are buying or consuming is going to be affected by this.Dr Iraj Abedian, CEO of Pan African Investments and Research Services
Dr Abedian says the fuel increase is going to result in "expenditure shift", meaning that consumers are going to cut down on what the spend on which will also affect the economy.
There's a shift which affects the welfare of consumers and in that regard, it is the poor and the working class who are affected most.Dr Iraj Abedian, CEO of Pan African Investments and Research Services
To hear the rest of the conversation, listen below:
SA missing in action. Trump vs Thunberg. Stakeholder capitalism. A wrap of our coverage of this year’s World Economic Forum.Read More
The Money Show’s Bruce Whitfield conducts a shocking interview with CNN’s Richard Quest at the World Economic Forum in Davos.Read More
Patrice Motsepe dined with US President Donald Trump at the World Economic Forum in Davos this week.Read More
Positioning your business for success - what does this phrase even mean?Read More
Personal Finance - Tips on how to invest your money.Read More
CNN business editor Richard Quest pulled no punches about South Africa when Bruce Whitfield interviewed him in Davos earlier.Read More
Vitality Air (from Canada) bottles air in the Swiss Alps then sells it for $23 a can. It’s like The Lorax (Dr Seuss), but real.Read More
Incoming spokesman Sikonathi Mantshantsha says he'll continue contributing to the people of SA through his appointment at Eskom.Read More
The Mahindra KUV100 is the most affordable new car in South Africa. Motoring journalist Ciro de Siena took it for a drive.Read More
Peter Pickford says go-ahead for West Coast project a classic example of govt rushing a development, not considering consequences.Read More