{"id":323503,"date":"2026-03-11T03:52:08","date_gmt":"2026-03-11T03:52:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/323503\/"},"modified":"2026-03-11T03:52:08","modified_gmt":"2026-03-11T03:52:08","slug":"middle-east-conflict-how-much-petrol-and-diesel-new-zealand-has-in-reserve","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/323503\/","title":{"rendered":"Middle East conflict: How much petrol and diesel New Zealand has in reserve"},"content":{"rendered":"

For diesel, there were 49.9 days\u2019 worth (from 54 days) in total \u2013 27.6 days (25 days) in the country and 22.3 days (29 days) on its way.<\/p>\n

For jet fuel, there was a total of 52 days\u2019 worth in stock or on its way (up from 50 days on March 1).<\/p>\n

The number of oil tankers transiting the Strait of Hormuz off the Iranian coast has come to a near standstill after the US and Israeli attacks on Iran from February 28.<\/p>\n

The strait is a key chokepoint for the global oil trade, facilitating the passage of about 20% of global oil supply.<\/p>\n

Around 80% of the crude that passes through the strait is destined for Asian refineries, which supplies New Zealand the petrol, diesel and jet fuel.<\/p>\n

Under minimum stockholding obligation (MSO) rules, fuel importers must hold minimum levels of fuel, either onshore or in New Zealand\u2019s exclusive economic zone (EEZ).<\/p>\n

The rules state that they must hold 28 days\u2019 cover of petrol, 21 days\u2019 cover of diesel and 24 days\u2019 cover of jet fuel.<\/p>\n

The Ministry of Business, Innovation and Employment said it had convened the Fuel Sector Co-ordinating Entity under the National Fuel Plan, which increases oversight of fuel imports and monitors the situation.<\/p>\n

On world markets, Brent crude oil last traded at around US$88 a barrel, having hit just under US$120 a barrel earlier in the week.<\/p>\n

Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.<\/p>\n

Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"For diesel, there were 49.9 days\u2019 worth (from 54 days) in total \u2013 27.6 days (25 days) in…\n","protected":false},"author":2,"featured_media":323504,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[74,95,6213,5660,138,6150,4731,54239,3806,219,84537,1122,71,6871,221,78,374,16609,5873,5511,1743,10110,28874,5969,117,111,139,69,22126,174612,10665,312,781,19985,80],"class_list":["post-323503","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-after","tag-and","tag-asian","tag-attacks","tag-business","tag-conflict","tag-days","tag-diesel","tag-east","tag-economy","tag-either","tag-employment","tag-from","tag-has","tag-how","tag-in","tag-innovation","tag-iran","tag-israel","tag-just","tag-launched","tag-middle","tag-ministry","tag-much","tag-new","tag-new-zealand","tag-newzealand","tag-nz","tag-petrol","tag-refineries","tag-reserve","tag-says","tag-stock","tag-worth","tag-zealand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/323503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=323503"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/323503\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/323504"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=323503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=323503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=323503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}