New Zealand's petrol stocks have increased while diesel and jet fuel has dipped slightly, according to the Ministry of Business, Innovation, and Employment's latest fuel stocks update.
MBIE is releasing fuel stock updates every Monday and Wednesday, tracking how many days of supply New Zealand has across petrol, diesel and jet fuel amid ongoing tensions in the Middle East.
The latest data, collected from fuel companies as at 11.59pm on May 6, showed total petrol stocks increased to 51.0 days of cover, up from 49.4 days in the previous update from May 3.
Diesel stocks had fallen to 44.3 days from 47.7, while jet fuel had dipped slightly to 54.1 days from 55.1.
An MBIE spokesperson said the movements were expected following recent fuel shipment arrivals, with stocks levels now beginning to be drawn down.
"These stock movements reflect normal shipping patterns and routine variations, and are consistent with what we would expect even without the conflict in the Middle East," it said.
“Some reductions over the next few updates are expected and normal. Further shipments are planned, and fuel continues to arrive regularly."
In-country fuel holdings showed a decrease from the previous update, with 32.0 days of petrol, 23.5 days of diesel and 31.8 days of jet fuel.
Eleven ships were contributing to New Zealand’s fuel supply with three vessels inside the country’s exclusive economic zone (EEZ) and eight more on the way, carrying enough fuel to boost reserves over coming weeks.
Ships carrying fuel outside New Zealand’s EEZ accounted for 15.0 days of petrol cover, 19.1 days of diesel and 21.8 days of jet fuel — a significant increase from the previous data release.
Fuel importers had also provided “good confidence” through confirmed orders to mid-June, MBIE said, with planned orders extending into late July.
The Government continued monitoring international fuel markets amid ongoing disruptions from the Iran war, while maintaining there was no need for New Zealanders to change their fuel-buying habits.
SHARE ME