Photo: RNZ / Unsplash
The government’s latest fuel supply update shows the country’s stocks have increased across the board.
The data accurate to Sunday showed 52.8 days of petrol, 46.1 days of diesel and 49.1 days of jet fuel either in the country or on its way.
Petrol is up by a day since the previous update, diesel is up 4.8 days, and jet fuel is up 3.4 days.
Government officials said the changes reflected the usual shipping patterns and routine variations that would be expected even without the Middle East conflict.
“Overall fuel stocks remain well above the minimum requirements, the supply chain is operating smoothly, and fuel is continuing to flow into the country as expected.
“Fuel importers have provided good confidence through confirmed orders to mid-June, with planned orders extending into July.”
Finance Minister Nicola Willis said it was all within the normal range.
“Obviously the fuel stocks are up. As we’ve said, sometimes they’ll go up by a few days, sometimes they’ll go down by a few days. What this demonstrates is that the market is continuing to function well.”
Willis said the country was in good stead but the government would continue to take proactive measures to prepare for a potential future disruption.
The data will next be updated on Monday, 4 May.
The government on Tuesday announced it had secured an extra nine days’ worth of diesel amounting to 90 million litres, through a partnership with Z Energy.
Z Energy will procure, own and manage the diesel but the government will control its release into the market.
It will fill the storage tanks at the former Marsden Point refinery which fuel importer Channel Infrastructure will have refurbished by early June.
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