Retail petrol prices are forecast to rise to as much as $3.50 a litre for 91 octane by Christmas. Rising oil prices and a weak New Zealand dollar were putting pressure on petrol prices, with the New Zealand dollar trading around 59.2 US cents ahead of Tuesday's US Federal Reserve's announcement on interest rates. "The premium grades are already over $3.50 in some places. I'd imagine it would be over $3.20 within about a fortnight and we could be by Christmas closer to $3.50 than $3." "So don't expect air flights to be going down because fuel prices will be going up in that regard as well."

Source: New Zealand Herald September 19, 2023 12:22 UTC