Source: Radio New Zealand
RNZ / Unsplash
There is a slight decrease in national fuel stock across petrol, diesel and jet fuel since the last update, but “supply remains within normal levels”.
That’s according to the latest fuel stocks update, which says the change remains within expectations and shows normal patterns.
Data released on Wednesday afternoon by the Ministry of Business, Innovation, and Employment showed that as of 11.59pm on Sunday evening, there were 58.7 days of petrol available, 52.2 days of diesel and 46.2 days of jet fuel.
The data combines the stocks that are in-country, on the water within New Zealand’s exclusive economic zone (meaning ships with fuel unloading, ships at berth yet to unload, and ships moving between ports), or on the water outside the EEZ (up to three weeks away).
There were 29.3 days of petrol, 21.6-day supply of diesel, and 22.1 days’ jet fuel in-country.
There were six ships on the water within New Zealand’s EEZ, containing 4.3 days’ petrol, 8.4 days’ diesel, and 11.4 days’ jet fuel.
A further 10 ships were on the water outside the EEZ, carrying 25.1 days’ petrol, 22.2 days’ diesel, and 12.6 days’ jet fuel.
Data released on Monday showed there was 59.3 days’ cover of petrol, 54.5 days’ cover of diesel, and 50.4 days’ cover of jet fuel.
The US and Israel’s ongoing war on Iran has caused a global fuel crisis which is now in its fifth week as Iran continues to block most shipping through the Strait of Hormuz which is used to transit about one-fifth of the world’s oil and gas.
It has hugely disrupted key supply chains and pushed Brent crude oil over $115 a barrel, pushing up prices at the pump.
In New Zealand on Wednesday morning, the Gaspy website showed the price of unleaded 98 was $3.75 a litre, diesel was $3.51, unleaded 95 was $3.63 and unleaded 91 was $3.43.
The government has a National Fuel Plan in place outlining measures that would be taken if supplies start running dry.
It has four phases and New Zealand is currently in phase one.
Phase 2 would see homes, businesses and the public sector encouraged to conserve fuel.
The higher phases are still under consultation.
Phase 3 would see fuel prioritised for life-preserving services and phase 4 would see stricter intervention in fuel distribution.
Moving up or down levels is decided by a ministerial oversight group based on fuel stocks, restrictions and supply chain data.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
