Fuel tracking app Gaspy says the average price of fuel in New Zealand has now hit “all-time highs”, with the Prime Minister signalling a decision on any potential relief may come soon.
Over the last month, Gaspy said the maximum average price for 91 was $3.30. The maximum average for diesel was $3.11, and 95 was $3.50.
This means prices have now outpaced the last time New Zealand's fuel surpassed $3 per litre, following Russia's invasion of Ukraine in 2022.
Christopher Luxon pressed on when targeted relief for fuel crisis is likely. Watch on TVNZ+
Speaking to Breakfast this morning, Prime Minister Christopher Luxon said an announcement on fuel price relief would be coming "shortly", and "within a couple weeks".
He said this would come before what is laid out in the National Fuel Plan, which would kick in if the country was unable to secure more fuel from offshore.
"There is a need for us to get people support quickly," Luxon said.
When pressed for a timeline on a relief package again in an interview with Newstalk ZB, Luxon suggested the Government would not need another week to decide on potential support, and an announcement could come sooner.
As for the National Fuel Plan, Luxon said the country is still "very much in step one, which is keep securing the supply, it's coming through, and obviously thinking through how we can support people with the cost".
Diesel one key in potential package
Previously, both Luxon and Finance Minister Nicola Willis have said any relief would have to be "timely, temporary, and targeted", and pointed to the Covid-19 Royal Commission report that warned against blanket financial responses during economic shocks.
Today, Luxon said targeted support would "have to" include rural communities.
After being shown a interview clip on Breakfast with a rural contractor who expressed their concern over the crisis – and said it was costing him an extra $10,000-12,000 per day – Luxon said a big concern in any relief package would be diesel, as it is "the key fuel for New Zealand".
"[Diesel] powers up so much of our economy. That's how people move goods around the country, and we're very conscious of monitoring diesel stocks even more so than others because we know that's the key pacing item for the economy."
However, Luxon suggested this might not be the only form of relief.
"It might be a series of things we have to do over the next few months," he said.
"But also, we have to think very carefully about where we sit today, what are the future decisions we might have to make. We are very aware of people who are desperate and need support as quickly as possible, and we're working really hard to deliver that."
Luxon will speak about the crisis at his post-Cabinet news conference at 4pm today, where he will be joined by Finance Minister Nicola Willis and Associate Energy Minister Shane Jones. That will be live streamed on 1News.co.nz.
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