The New Zealand Government says fuel supplies remain stable for now, but growing tensions in the Middle East, particularly the ongoing conflict in Iran, are raising concerns about future disruptions.
According to a report by Stuff, Finance Minister Nicola Willis said officials were not worried about the current flow of fuel into the country, though contingency planning was underway. “Which means we have the confidence to stay in phase one of our fuel response plan,” she said on Monday.
“So while we have no concerns about the current flow of fuel into New Zealand, we do remain gravely concerned with the trajectory of the conflict in the Middle East. We continue to call on all parties to show restraint and to endeavour towards a negotiated outcome,” as quoted by Stuff.
According to the latest figures from the Ministry of Business, Innovation and Employment (MBIE), fuel stocks are within normal ranges despite some fluctuations. The country currently holds 61.9 days of petrol, 51.5 days of diesel, and 50.1 days of jet fuel when accounting for supplies both on land and in transit.
However, diesel reserves within the country have dropped to 17.5 days, down from 21.6 days recorded on April 1. Additional supplies are on the way, with fuel shipments inside New Zealand’s Exclusive Economic Zone expected within two days and others arriving from overseas in up to three weeks.
MBIE said the latest data reflects typical supply patterns, noting, “The data released today shows an increase in petrol and jet fuel stocks and a slight decrease in diesel stock since the last update on 1 April,” Stuff has quoted.
Willis said the Government remains in close contact with fuel importers, who have not reported any significant disruptions so far. “They continue to report that ships are leaving normally, that orders are being fulfilled and that they're not having challenges currently placing orders, regardless,” she said, as reported by Stuff.
Despite this, officials are preparing for possible future challenges. “We are preparing for an unwelcome scenario in which future orders could be cancelled, or there could be challenges.”
The minister warned that a prolonged conflict could have widespread consequences. “And the more harm there is to the global economy and to New Zealanders here at home, who have already experienced sharp increases in their prices for fuel, and I'm sure that's been very unwelcome for many families this Easter,” she told RNZ.
In response, the Government has already taken steps to strengthen supply resilience, including securing additional fuel storage at Marsden Point and working with industry partners to increase reserves.
Willis emphasised the importance of a swift resolution to the conflict, saying, “Again, the sooner this conflict ends, the better it is, not only for the people of the Middle East, but certainly New Zealanders at home, who I know, cannot afford diesel at the prices it currently is,” Stuff has quoted.
The Government has also introduced twice-weekly updates on national fuel stocks to provide greater transparency, following concerns about potential supply chain disruptions linked to the conflict.