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Petrol, diesel stocks drop for a third time in bi-weekly stocktake

Monday, 20 April 2026

Nothing that is happening in the Strait of Hormuz right now is very good for Kiwi consumers - or indeed, any consumers.
Nothing that is happening in the Strait of Hormuz right now is very good for Kiwi consumers - or indeed, any consumers.

Petrol and diesel stocks have dropped again, for a third time, in this afternoon’s fuel stocks update from from the Government, although jet fuel stocks are on the up.

The Ministry of Business, Innovation and Employment (MBIE) releases stock movements every Monday and Wednesday afternoon at 1pm, although the stock take comes from several days earlier. Today’s count is as at 11:59pm, Wednesday April 15.

Today’s data shows 54 days of petrol on hand (29.6 days in country, 16.7 days on the water but within New Zealand’s economic zone (EEZ), and 7.7 days on the water but outside our EEZ). That compares with 56.3 days of petrol available in the last count.

For diesel, there are 19.5 days’ worth on land, 10.8 days on the water within out EEC and 14.6 days on the water outside our EEZ, a total of 44.8 days worth. That is a slight decrease from 45.4 days of diesel in the last count.

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Jet fuel is a different story - a total of 51.4 days to hand - 28.5 in the country, 1.6 days on the water in the EEZ and 21.3 days on the water but outside the EEZ.

“Movements remain within expectations and show normal patterns,” MBIE said.

“There is currently no indication of fuel supply disruption, and fuel continues to flow normally into New Zealand.”

But the factors that are driving concern about fuel stocks have worsened over the weekend. After hopes for an end or at least a ceasefire between the US and Iran late last week, Iran closed the Strait of Hormuz again and the US fired on an Iranian tanker.

After the ceasefire-related plummet, oil prices rose again, with Brent crude oil, the international standard, climbing 5.8% to US$95.64 per barrel. The move signalled renewed doubts about how soon oil will be able to exit the Middle East.

Even if a lasting deal to reopen the Strait of Hormuz emerges, analysts say it could take months for oil shipments to return to normal levels and for fuel prices to go down. Backed-up tanker traffic, shipowners concerned about another sudden escalation, and energy infrastructure damaged during the war are factors that could impede production and shipment volumes from returning to pre-war levels.