Fuel Cover Drops to 21 Days in NZ, Officials Say No Need to Panic

2026-03-25 - 02:04

New Zealand’s fuel reserves have dipped marginally in a new update on stock levels, with the Government urging calm as it monitors the global supply crunch. National fuel prices have climbed by around 55 cents per litre for petrol and 90 cents per litre for diesel since the start of the war in the Middle East. MBIE data published today showed combined onshore and on-water stocks sat at 46.6 days of cover as at March 22, down marginally from 46.9 days four days earlier. The ministry said the changes reflected normal patterns of consumption and shipping rather than signs of supply disruption, and that there was no need for New Zealanders to change how they buy fuel. However, in-country fuel reserves have dropped to about 21 days of cover. Combined onshore stocks fell from 23.3 days of cover to 20.7 days between March 18 and March 22. Diesel stocks on the ground also saw a decline, falling from 21 days of cover to 18.1 days, while petrol dropped from 27.4 to 24.5 days and jet fuel eased from 21.4 to 20.1 days. On-water stocks rose over the same period, climbing from 23.6 to 25.9 days of combined cover, meaning total reserves — both onshore and at sea — held broadly steady. MBIE said a number of fuel ships had been docking and unloading in New Zealand this week, and that fuel importers had been managing their shipments in line with demand and minimum stockholding obligations. Two vessels were expected to arrive within the next fortnight, carrying petrol, diesel and jet fuel. Fuel companies had also told officials there were a healthy number of ships on the water or planned for later in April. The ministry said fuel companies had been asked to provide immediate updates to officials, and there had been no reports of issues with future shipments. MBIE said the country had clear, proven arrangements for managing disruptions but was not yet experiencing the types of sustained supply problems that would justify emergency measures under the national fuel plan.