A paradox at the petrol pump: How ‘keeping prices sharp’ can cause ‘disruptions’
Tuesday, 17 March 2026
We’ve got enough fuel - for now (and possibly for longer).
That’s the message from petrol chains amid changes in demand fuelled by conflict in the Middle East.
After reports of drivers filling petrol cans with fuel at Gull stations over the weekend, a graphic shared on social media yesterday purported to show that multiple Auckland sites owned by the discount retailer had sold out of some fuels or were closed altogether.
Stuff asked Gull about the graphic but it did not directly confirm sellouts or closures, instead referring us to part of Finance Minister Nicola Willis’ press conference on Monday:
They said it was “important for Stuff readers to be given the context that there is ”plenty of fuel around”.
At that conference, called to offer an update on the Government’s response to the conflict, Willis was asked for her message to motorists responsible for panic buying.
She said: “We know there's enough fuel in the country right now that we're not going to run out anytime soon. And look, I understand why people were flocking to Gull, which is, people are shopping around for a bargain. I can hardly blame them for that.
“Gull have assured us that they have both enough storage and enough fuel on the way that they will be in a position to keep restocking their stations.
“That shouldn't be read as a sign that there is a national fuel shortage.
“From time to time there will be disruptions with individual fuel suppliers, particularly if they keep prices sharp. I'd like them to keep prices sharp.”
As well as referring Stuff to Willis’ comments, Gull said: “This is an industry wide issue but Gull has good level of fuel at its terminal and is working as fast as practical with our logistics’ providers to get fuel to our 40 Auckland sites to meet Gull’s customers’ increased demand.”
Stuff called multiple fuel retailers yesterday to ask about fuel availability.
Z Energy was the only other chain to respond before deadline. It said it was closely monitoring the rapidly evolving situation and “at this stage”, the impacts on Z’s ability to supply customers remained minimal.
“However, global energy markets remain highly volatile and … we can expect to see growing pressure on global fuel supply chains. We continue to monitor actively the developments in global markets and assess their implications.
“As a local company, we are committed to New Zealand customers and prioritising their fuel needs. As part of the Ampol Group, Z benefits from a diversified and resilient supply chain, supported by refining capability, access to global markets, and robust critical infrastructure.
“We’re unable to comment on the current stock levels of individual service stations. What we can say is that, in addition to bulk and terminal stocks, fuel held across retail service stations and truck stops represents an additional approximately 2–6 days of fuel supply for New Zealanders.
“We are seeing increased demand in some areas, and our teams are working as quickly and safely as possible to move fuel through the network to where it’s needed most. This is about ensuring fuel is in the right locations to meet demand. At this stage, there is no overall shortage of fuel nationally.”
Prices for a litre of 91 varied dramatically across New Zealand yesterday. According to crowd-sourced price app Gaspy, drivers in some places were paying as little as $2.65, with others stumping up more than $4.
Gaspy director Mike Newton said sites operated by brands such as Gull, NPD, Tasman, U-GO and Waitomo typically had lower prices.