Fuel stocks remain stable, with modest increases across all fuel types showing in the latest government update.
The Ministry of Business, Innovation and Employment data – collected at 11.59pm on Sunday and released at 1pm on Wednesday – showed an increase across all three fuel types.
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.
New Zealand has 62.6 days of petrol, 51.7 days of diesel, and 53.5 days of jet fuel as of 11.59pm on April 5.
That compared to 61.9 days of petrol, 51.5 days of diesel, and 50.1 days of jet fuel in the previous update.
In country stocks were up, with 28.3 days of petrol, 23.7 days of diesel, and 27.9 days of jet fuel available.
The Ministry of Business, Innovation and Employment said national fuel stocks remained stable and that the movements were within expectations.
"There is currently no indication of fuel supply disruption, and fuel continues to flow normally into New Zealand."
Today's fuel stocks update came against the backdrop of a temporary two-week ceasefire being struck between the US and Iran.
Iran also said passage through the Strait of Hormuz would be permitted during the ceasefire under Iranian military control, though it remains unclear how open the vital shipping route will be.
The Government is currently operating under phase one of the national fuel plan, which centres on transparency and preparedness, with officials closely monitoring fuel stock levels and international supply conditions.
Under phase two, fuel would remain available as normal, but the public would be strongly encouraged to voluntarily reduce consumption, including by carpooling or using public transport and other alternatives.
This phase would also involve closer coordination between government and industry to strengthen supply chains and responsibly manage demand.
Decisions on moving between phases were made by the Fuel Security Ministerial Oversight Group, made up of senior ministers including Nicola Willis and Shane Jones.
In assessing whether to escalate the response, the group monitors a range of factors, including export restrictions, significant stock level changes, advice from fuel companies, policy shifts in Australia or by the International Energy Agency, and disruptions to regional fuel distribution.
Luxon, Willis say NZ has 'sufficient' fuel stocks
Speaking from the Beehive this afternoon, Prime Minister Christopher Luxon and Finance Minister Nicola Willis said New Zealand continued to have sufficient fuel stocks.
"Fuel importers have not reported any issues with future orders or shipments and therefore, we remain at phase one of our national fuel response plan," Luxon said.
"Just because we remain at phase one, it doesn't mean the impacts of the Middle East conflict are not being widely felt. Even with a potential cease fire, the impacts on New Zealand and the rest of the world will continue to be felt, widely for some time."
Willis said there were "good levels" of fuel available within or arriving in the country.
"Since the last update, three ships have finished discharging fuel. One ship has entered New Zealand's exclusive economic zone, and one additional ship is now on its way to New Zealand currently in international waters."
Despite the positive development with the US-Iran ceasefire, she said it was "unclear" how fast cargo would begin to move through the Strait of Hormuz.
"New Zealand is also a long way from our fuel suppliers, but prices here typically respond quickly to oil market moves, usually within a week or so, but this may take longer in this instance, given the heightened volatility in markets and the residual uncertainty about the geopolitical situation."
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