Petrol down for Christmas

Some good news to help stretch the Christmas dollar.

Shell has led a three cent a litre drop at the petrol pump on the back of the strengthening New Zealand dollar. Fuel at most of its outlets is now priced at $1.65.9 for 91 and $1.72.9 for Super. Diesel is unchanged.

The New Zealand dollar has jumped almost two cents against the US dollar since the Reserve Bank announced yesterday it was leaving the official cash rate unchanged at 2.5 percent but indicated interest rates could rise mid-2010.

The price decrease also follows falling oil prices on international markets. Crude is currently trading at $US70 a barrel.

- Newstalk ZB