Diesel supply drops five days’ worth, but fuel importers have ‘good confidence’

Wednesday, 6 May 2026

Diesel stocks have dropped by five days’ worth, in the latest MBIE fuel supply update. (file photo)

Fuel importers have 'good confidence' in New Zealand's fuel supply, with confirmed orders booked through to mid-June - and further shipments planned into July.

Overall fuel stocks remain well above minimum requirements despite recent decreases in petrol, diesel, and jet fuel holdings, according to the latest national update from Ministry of Business, Innovation and Employment (MBIE).

The MBIE data, as at 11.59pm on May 3, showed petrol stocks at 49.3 days’ supply, diesel at 47.7 days, and jet fuel at 55.1 days.

Since the previous update, petrol stocks decreased by 3.2 days, diesel dropped by 5 days, and jet fuel fell by 3.6 days.

Prime Minister Christopher Luxon has signed a trade resilience deal with Singapore as a US-led mission prepares to escort stranded ships through the Strait of Hormuz, where thousands remain trapped amid a 66-day blockade.

Officials said the drop in diesel followed a previous increase after tankers unloaded. Because stocks were still high, further reductions were expected over the coming weeks as fuel was used, the MBIE update said.

Current stock movements were described as reflecting routine shipping patterns and variations that would be expected even without conflict in the Middle East.

MBIE stated fuel levels were broadly in line with normal levels seen before recent global disruptions.

The supply chain was reported to be operating smoothly with fuel companies reporting regularly to officials. There were currently no concerns regarding future shipments.