The total number of petrol and jet fuel stocks have risen – while diesel has slightly decreased in the latest fuel stocks update released this afternoon.
Collected at 11.59pm last Wednesday, the latest data showed a 3.2 day increase in petrol, a 3.9 day increase in jet fuel, and a 0.7 day decrease in diesel either in New Zealand or en route to the country.
Stock totals were split into three categories – fuel already in the country, on the way to New Zealand within its exclusive economic zone (up to 2 days away), and fuel outside the zone, (up to 3 weeks away). These are then added together to show total stocks.
In-country, petrol and diesel stocks are down.
There was a 2.1 day decrease in the in-country petrol stocks, a 4.1 day decrease in diesel stocks, and a 3.4 day increase in jet fuel stocks compared with the last data collected on March 29.
Total stocks remained "stable", with data showing 61.9 days of petrol cover, 51.5 days of diesel and 50.1 days of jet fuel.
That compared to from 58.7, 54.5 and 46.2 days respectively in the previous update published on April 1.
"Fuel stocks naturally rise and fall each week as fuel is used and new shipments arrive," an MBIE release said.
"Current fuel levels are broadly in line with normal levels before recent global disruptions, and fuel supply remains normal."
The government has been operating under phase one of the national fuel plan, which focuses on transparency and preparation, with the government closely monitoring fuel stock levels and international supply conditions.
Under phase two, the public could still access fuel as usual, but would be advised to strongly consider voluntarily reducing consumption via the use of carpooling and alternatives like public transport.
There would be closer coordination between government and industry to strengthen supply and manage demand responsibly.
The decision to move between phases lies with a group of senior ministers, including Nicola Willis and Shane Jones, who make up the Fuel Security Ministerial Oversight Group.
In considering a move, the group monitors several criteria, including export restrictions, significant changes in stock levels, advice from fuel companies, policy shifts from Australia or the International Energy Agency, and disruptions to regional distribution.
'Confidence to stay in phase one', Willis says
Speaking from Parliament this afternoon, Willis said considering that the total stocks remained stable, NZ would not be moving phases.
“We continue to hear from fuel importers that they are experiencing no material issues with future shipments, which means we have the confidence to stay in phase one of our fuel response plan.”
She said the government remained “gravely” concerned with the trajectory of the conflict in the Middle East and urged all parties to show restraint and to negotiate towards peace.
Over recent weeks, the average price of diesel has inched above that of petrol. Willis acknowledged the Kiwis were feeling but said NZ’s price increases were in line with trends in international markets.
She said fuel importers had agreed to work more closely with the government in terms of providing demand-related data.
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