New Zealand's fuel stocks remain above minimum levels, with petrol and diesel dipping slightly and jet fuel rising in the latest Ministry of Business, Innovation and Employment figures released today.
At the same time, Finance Minister Nicola Willis and Associate Energy Minister Shane Jones confirmed an extra shipment of diesel reserve has left for New Zealand.
MBIE's fuel stock data this afternoon showed 58.1 days' petrol cover, 44.2 days of diesel, and 57.8 days of jet fuel as at 11.59pm on Wednesday, May 27.
Petrol dropped by 2.9 days, diesel dropped by 1.7 days, while jet fuel climbed 7.5 days.
NZ had 34.4 days of petrol (down 0.7 days), 24.8 days of diesel (down 0.3 days) and 32.5 (up 0.1 days) days of jet fuel in-country.
MBIE said the supply chain was continuing to run smoothly.
"These movements are routine and consistent with typical shipping patterns and are what we would expect even without the conflict in the Middle East."
"Fuel importers have provided good confidence through confirmed orders to July, with planned orders extending into August."
Thirteen ships were on the water – three within New Zealand's exclusive economic zone and 10 outside it.
Willis and Jones also confirmed the first of two diesel reserve shipments had left for New Zealand.
It was expected to arrive at Marsden Point – where two former crude oil tanks were being refurbished to be able to store around 93 million litres of diesel – in mid-June. The second would arrive in early July.
The two shipments would provide for around nine days of the country's diesel consumption.
It would be controlled by the government and would not count towards the fuel companies’ minimum stockholding obligations.
"The Crown and Z Energy agreed that the company will own and manage the reserve stocks. How and when the reserve is used will be decided by ministers," Jones said.
"Having additional diesel available in New Zealand provides greater resilience and gives New Zealanders confidence that we are better prepared for potential supply disruptions," Willis said.
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