Prime Minister Christopher Luxon says the government will reveal in the next few weeks how it will support New Zealanders struggling with skyrocketing fuel prices.
He says the country has healthy fuel stocks, and the government’s doing everything it can to secure them.
Oil prices have risen as the fall out continues from the Middle East crisis; Brent Crude oil rose about US$1 to be just above US$113 a barrel in early Asia trade.
The New Zealand share market retreated sharply, with the benchmark NZX50 down 1.4 percent shortly after 11am.
It comes after US President Donal Trump vowed to ‘obliterate’ Iran energy facilities if it doesn’t open Strait of Hormuz.
Meanwhile, Auckland Transport is calling for the government to encourage more people to use public transport.
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