TOP STORY: HOW CONSUMERS CAN DEAL WITH PETROL PRICE HIKE
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GUEST: DR AZAR JAMMINE, DIRECTOR AND CHIEF ECONOMIST OF ECONOMETRIX
Consumers who are already under pressure from high interest rates, food prices and energy costs will have to dig deeper into their pockets to fill up the tank, starting in August.
This comes as oil prices rallied to a three-month high early in the week, after hovering around $81 (R1 469) a barrel last week. The rally follows better-than-expected global demand and supply disruptions in both Nigeria and Libya, as well as the output cuts by the Organisation of the Petroleum Exporting Countries driving up the oil price to over $85 a barrel by midday on Tuesday.
The increase comes despite an improvement in the rand and a stay in interest rate hikes by the Reserve Bank last week.
Consumers who are already under pressure from high interest rates, food prices and energy costs will have to dig deeper into their pockets to fill up the tank, starting in August.
This comes as oil prices rallied to a three-month high early in the week, after hovering around $81 (R1 469) a barrel last week. The rally follows better-than-expected global demand and supply disruptions in both Nigeria and Libya, as well as the output cuts by the Organisation of the Petroleum Exporting Countries driving up the oil price to over $85 a barrel by midday on Tuesday.
The increase comes despite an improvement in the rand and a stay in interest rate hikes by the Reserve Bank last week.
