The impact of the escalating conflict in the Middle East has so far not affected fuel supply into New Zealand and supply “remains stable”, and “stocks are healthy”. This is the assurance given today by the Ministry of Business, Innovation & Employment.
According to the MBIE, New Zealand is continuing to closely monitor the impacts of the escalating conflict in the Middle East on global fuel markets. While this is a fast moving situation internationally, fuel supply into New Zealand remains stable, and onshore and incoming stocks are healthy.
There is currently no need for New Zealanders to change how they buy fuel, but sticking to your usual habits helps keep the system running smoothly for everyone, reminds MBIE.
Meanwhile, petrol prices in New Zealand have skyrocketed and in Hamilton, the price of 91 today had touched $3.21 at Caltex Dinsdale and the cheapest was at $3.04 at some pumps in the city.
It is important, however, to remember that fuel supply is inherently dynamic, with stock levels fluctuating week‑to‑week as fuel is consumed and new shipments arrive. The data released today by MBIE shows minor changes in stock levels and reflect normal patterns of consumption and shipping, not signs of supply disruption.
“New Zealand has clear, proven arrangements for managing disruptions. We are not yet experiencing the types of sustained supply disruption that would justify emergency measures under the National Fuel Plan…Introducing fuel rationing or restrictions before there is clear evidence of a genuine shortage won’t create more fuel in the system. New Zealand doesn’t have large storage capacity beyond the minimum stockholding requirements, so we rely on regular shipments to keep supply steady. Bringing in restrictions too early can disrupt normal operations and make it harder to keep fuel flowing to essential services when it really matters.”
International events can create uncertainty, but New Zealand’s fuel supply system is designed to operate reliably under a range of global conditions. In the short term, New Zealanders can be confident that we have the fuel we need to keep people, goods and essential services moving.
MBIE will continue to provide updates as the situation evolves and data will next be updated on the afternoon of 25 March.
For more indepth of data released today, please click here
