‘No concerns’ over fuel stocks

Fuel stocks for New Zealand remain stable despite the government’s latest update showing a decrease across petrol, diesel and jet fuel since its previous update.

New figures from the Ministry of Business, Innovation and Employment (MBIE) show there were 25.3 days of petrol in the country as of midnight on Sunday, April 12, which was down from 25.6 days on the Wednesday prior.

Diesel slipped from 21.7 days to 20.8 over the same period, while jet fuel fell from 25.1 days to 21.3.

Total stocks, which include orders on the water and up to three weeks away from delivery, are 56.3 days of petrol, 45.4 days of diesel and 47 days of jet fuel.

The figures for petrol and diesel were down from 59.7 and 49.1 days respectively since MBIE’s previous update. Jet fuel stocks had slipped from 50.7 days.

MBIE says the latest data shows national fuel stocks remain stable with sufficient stock levels across petrol, diesel and jet fuel.

“Although this is the second consecutive update with drops in total fuel stock, these changes do not raise any immediate concerns,” it adds.

“The departure of one small shipment has been delayed. This is because as some countries have closed their export facilities, more vessels are using Singapore as their primary loading hub – leading to congestion and delays. 

“The fuel companies have confirmed that supply chains continue to operate, although these types of delays are likely to become more common.”

MBIE says fuel stocks naturally rise and fall each week as fuel is used and new shipments arrive. “Current fuel levels are broadly in line with normal levels before recent global disruptions, and fuel supply remains normal.”

The next fuel stock update is due on April 20.