Latest gauge of NZ's fuel supplies to be released today

6:17am
Close-Up of Man Refueling Vehicle at Gas Station Pump. File photo.

The latest gauge of the country's fuel supplies will be released later today, and farmers will be among those taking a keen interest.

The figures available now - showing what fuel there is and the ships on their way with more - were released on Thursday and show up until Sunday, March 22.

They revealed 24.5 days of petrol in the country, with another 24.2 on the way.

There was 20.1 days of jet fuel with 33.3 days on the way, and 18.1 days of diesel with 28.3 days on the way.

It was the diesel stocks that farmers said they would be keeping an eye on.

Dealers say electric vehicles are being snapped up as Kiwis look for ways to cut fuel costs.  (Source: 1News)

Federated Farmers spokesman David Birkett said up to 95% of farming machinery used the fuel.

"I guess what we're looking for is at least maintaining that level, if we can hold it at those sorts of levels that would be really good to see," he told RNZ.

"But the likelihood that it will reduce a little but more is probably quite significant as well."

Birkett said there was a challenge in making sure land workers used only the diesel they need.

He said farmers were already limiting their use of diesel, both because of how much it costs and to conserve it.

"Even on the farm there are some activities that can be delayed or put back so it's about making sure essential work is being done in these types of circumstances," he said.

Refineries in Singapore and South Korea are crucial to New Zealand’s fuel provisions.  (Source: 1News)

"It [diesel] does the heavy lifting essentially, all our transportation combines and tractors and trucks so it really is the backbone of the New Zealand economy these days.

Birkett said it was prudent for farmers to save what diesel they could early.

"Saving a few litres here and there now might make us in a better position than a months time or even two months time when things potentially good be better or they could be tighter, so it's a bit like anything, a bit of savings earlier can quite often put you in a better position later," Birkett said.

One grape harvester who was part-way through the harvest told RNZ last week that their supplier had already signalled tightening supplies.

They were grappling with staggering price rises the likes of which had never been seen before, he said.

rnz.co.nz

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