Fuel supplies ‘normal’

The government says New Zealand’s fuel supply remains within normal levels and two shipments carrying petrol and diesel are due to arrive here in the next two weeks.

The Ministry for Business, Innovation and Employment (MBIE) is monitoring fuel stocks and shipments as the ongoing conflict in the Middle East disrupts 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,” says MBIE. 

“There is currently no need for New Zealanders to change how they buy fuel.

“It is important to remember that fuel supply is inherently dynamic, with stock levels fluctuating week to week as fuel is consumed and new shipments arrive.”

It notes data released on March 25 shows minor changes in stock levels and reflect normal patterns of consumption and shipping, not signs of supply disruption.

As of midnight Sunday, New Zealand had 48.7 days’ stock of petrol, 46.5 days of diesel and 43.4 days of jet fuel.

A ship delivering a further 4.4 days’ cover of petrol is due to arrive before March 29, according to MBIE.

Another vessel is set to dock the following week and will be carrying 1.3 days of petrol stock, 7.2 days of diesel and 11.6 days of jet fuel.

“Fuel importers manage their imports in line with demand and minimum stockholding obligations,” says MBIE. 

“Fuel companies have been asked to provide immediate updates to officials and there have been no reports of issues with future shipments.”

The ministry’s data does not include shipments more than two weeks away, including cargoes already loaded, currently loading or planned. 

MBIE adds that fuel companies have told the government there are a “healthy number” of ships on water or planned for later in April.

“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.”