Diesel and jet fuel stocks up, petrol remains the same, latest data shows

Monday, 4 May 2026

Fuel prices soared in March as the Iran war closed the Strait of Hormuz. Stats NZ reports diesel jumped 43% and petrol 18%, causing a record-breaking spike that economists warn will flow into supermarket shelves by spring.

Diesel and jet fuel stocks are up, with 91 petrol about the same as the previous update, the latest government data shows.

The Ministry of Business, Innovation and Employment (MBIE) said overall fuel stocks were well above the minimum requirements and movements reflected usual shipping patterns.

Accurate to last Wednesday, the stats had shown about 52 days of petrol, nearly 53 days of diesel, and nearly 59 days of jet fuel.

That compared to nearly 53 days, about 46 days, and about 49 days on Sunday.

Three ships are within two days of arriving, and another nine are less than three weeks away.

Petrol prices have been rising since the Iran War broke out.

MBIE said with stocks now very high, it would be normal to see multiple decreases in a row over the next few updates.

The department pointed to the new inclusion of the names of fuel ships, saying this would provide greater visibility of supply movements.

They included three ships within New Zealand's exclusive economic zone (up to two days away):

CC Ningbo
Grand Winner 3
TP Endurance

And another nine ships that had left their previous port and were within three weeks of arrival:

Esteem Discovery
Esteem Endeavor
Gem Emerald
Maersk Crete
Pacific Sunstone
Sea Odyssey
Sea Orca
STI Opera
STI Virtus