New Zealand's fuel stocks have dropped across all three fuel types, with diesel exceeding a threshold that requires ministers to consider escalating response phases.
According to the latest figures, in-country and on-water stocks have retreated from recent highs after a burst of shipments was absorbed into the supply chain.
The Ministry of Business, Innovation and Employment's (MBIE) update published today showed petrol stocks dropped from 52 to 49 days' cover, diesel fell from 52 to 47 days, and jet fuel declined from 58 to 55 days over the period ending May 3.
An MBIE spokesperson said the drop across all fuel types had been expected, "given the recent arrival of several shipments", and the supply chain was "operating smoothly".
The scale of the diesel drop - more than four days' cover - exceeds a key threshold under the Government's national fuel plan, updated in late March.
Petrol and jet fuel stocks have each fallen by close to three days' cover over the same period. The plan requires a ministerial oversight group to consider shifting between fuel response phases when stock levels move by plus or minus three days between updates.
Finance Minister Nicola Willis told 1News officials had assessed the situation and recommended no escalation was needed, saying there were "normal fluctuations".
"We expect these fluctuations. We've had big increases in fuel, and we've still got seven ships on the way in the next three weeks," Willis said.
She said fuel importing companies had not reported any disruption to their ability to supply New Zealand, adding the Government would get advance notice if that changed, which "could be a trigger for moving into a higher response phase".
In-country jet fuel stocks actually rose, climbing from 31.4 to 34.4 days' cover, while petrol and diesel stored onshore both dipped slightly.
The bigger movements came from on-water stocks. The number of fuel ships fell from 12 to 10, and reserves outside New Zealand's exclusive economic zone declined noticeably - diesel dropping from 22 to 19.1 days' cover and jet fuel from 27.3 to 20.2 days.
MBIE continued to publish individual vessel names, a practice it began for the first time in its previous update on May 4.
Three ships were within New Zealand's exclusive economic zone and seven outside.
The STI Opera, listed in the earlier update, was no longer on the list, while the Esteem Endeavor had moved from outside the zone to within it.
Fuel importers had provided "good confidence" through confirmed orders to mid-June, with planned orders extending into July, the ministry said.
There had been no reports of material issues with future shipments.
Sales have plummeted and business confidence has slumped as the Iran blockades continue. (Source: 1News)
The ministry again cautioned New Zealanders against relying on free ship-tracking tools, saying publicly available data did not provide "a complete, consistent, or verified picture of fuel supply movements".
Stock movements reflected the usual shipping patterns and routine variations expected even without the conflict in the Middle East, MBIE said.
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