NZ Fuel Stocks: Levels Dip to 46.6 Days Amid Middle East Concerns

Wellington, New Zealand – Fuel stocks in New Zealand have experienced a slight decline, settling at 46.6 days’ worth as of Sunday, March 22nd, according to the latest data released by the Ministry of Business, Innovation & Employment (MBIE). The figures represent a minor decrease from the 46.9 days reported on Monday, March 17th.

The current reserves break down to approximately 48.7 days of petrol, 46.4 days of diesel, and 43.4 days of jet fuel, encompassing supplies both within the country and currently en route, as reported by RNZ. Diesel reserves are particularly lean, with only 18 days’ worth currently held on land, though additional shipments are expected.

The twice-weekly reporting of fuel stock levels was initiated in response to growing international concerns surrounding potential supply disruptions linked to the escalating conflict in the Middle East. MBIE officials maintain that fuel supply remains within normal levels and have advised New Zealanders against altering their consumption habits. MBIE stated that fuel importers are managing shipments in line with demand and minimum stockholding obligations.

Despite the slight dip, officials emphasize that the changes reflect typical patterns of consumption and shipping, rather than indicating a broader supply issue. Several vessels carrying fuel are currently scheduled to dock and unload in New Zealand over the coming weeks. Shipments arriving between March 23rd and April 5th are expected to add another 25.9 days of total fuel stock, including 4.4 days of petrol, 7.2 days of diesel, and 11 days of jet fuel.

The Ministry continues to closely monitor the global fuel markets and the impact of the Middle East conflict, acknowledging the inherent dynamism of fuel supply, with stock levels fluctuating weekly. Fuel companies have been instructed to provide immediate updates to officials, and to date, no issues with future shipments have been reported.