Government still ‘gravely concerned’ as NZ fuel stocks hold steady
Monday, 6 April 2026
The Government said on Monday it remained gravely concerned about the trajectory of the Middle East conflict and its impact on the global economy, which shows no signs of ending.
Finance Minister Nicola Willis told media they hadn't heard about any material problems from fuel importers, meaning the country could remain in phase one of its fuel crisis response.
“But we do remain gravely concerned with the trajectory of the conflict in the Middle East,” she said. “We continue to call on all parties to show restraint and to endeavour toward a negotiated outcome.”
She said the price rises in New Zealand were inline with what was being seen in international markets but “we are very conscious that these high prices are affecting just about every New Zealander.
Petrol and jet fuel stocks have risen, while there has been a slight decrease in diesel stocks.
The Ministry of Business, Innovation, and Employment's latest fuel stocks update showed that as at 11:59pm on Wednesday evening, there were 61.9 days of petrol, 51.5 days of diesel, and 50.1 days of jet fuel.
This is compared to 58.7 days of petrol, 52.2 days of diesel and 46.2 days of jet fuel, in the previous update.
MBIE said the update showed national fuel stocks were stable, with sufficient stock levels.
'Movements remain within expectations and show normal patterns,' the ministry said.
The update showed there were 27.2 days of petrol in-country, 17.5 days of diesel, and 25.5 days of jet fuel.
There were four ships on the water in New Zealand's Exclusive Economic Zone, containing 3.2 days of petrol, 8.2 days of diesel, and 1.2 days of jet fuel.
A further 12 ships were on-water outside the EEZ, with 31.5 days of petrol, 25.8 days of diesel, and 23.4 days of jet fuel.
Fuel prices have skyrocketed since the US and Israel launched their war on Iran at the end of February. Iran's reaction to close off the Strait of Hormuz to most shipping has sent the global energy industry into turmoil.
New Zealand relies on imports of refined fuel, with no local refining capability.
The government has previously downplayed concerns of shortages, but has set up a National Fuel Plan with different levels of potential rationing should supplies begin to dry up.