{"id":454841,"date":"2026-06-01T03:00:08","date_gmt":"2026-06-01T03:00:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/454841\/"},"modified":"2026-06-01T03:00:08","modified_gmt":"2026-06-01T03:00:08","slug":"petrol-crisis-mbie-says-new-zealand-fuel-supply-secure-despite-middle-east-conflict","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/454841\/","title":{"rendered":"Petrol crisis: MBIE says New Zealand fuel supply secure despite Middle East conflict"},"content":{"rendered":"<p><img  alt=\"MBIE says the overall fuel stocks remain \u201cwell above\u201d the minimum requirements. Photo \/ Dean Purcell\" class=\"article-media__image responsively-lazy\" data-test-ui=\"article-media__image\"\/>MBIE says the overall fuel stocks remain \u201cwell above\u201d the minimum requirements. Photo \/ Dean Purcell<\/p>\n<p class=\"rGEveXCr\" style=\"display:none\">Since the last update, petrol stocks have decreased by 2.9 days, diesel stocks have decreased by 1.7 days, and jet fuel stocks have increased by 7.5 days.<\/p>\n<p class=\"rGEveXCr\" style=\"display:none\">\u201cThese movements are routine and consistent with typical shipping patterns and are what we would expect even without the conflict in the Middle East,\u201d MBIE said. <\/p>\n<p class=\"rGEveXCr\" style=\"display:none\">This update comes after almost half a billion dollars has been held in reserve by the Government in Budget 26 to address further shocks from <a href=\"https:\/\/www.nzherald.co.nz\/nz\/politics\/budget-2026-govt-creates-almost-500m-stash-to-address-fuel-crisis-fuel-price-forecasts-revealed\/DVIV3FQ7ZVGVBOXO7YXAOZKXA4\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.nzherald.co.nz\/nz\/politics\/budget-2026-govt-creates-almost-500m-stash-to-address-fuel-crisis-fuel-price-forecasts-revealed\/DVIV3FQ7ZVGVBOXO7YXAOZKXA4\/\">high fuel prices.<\/a><\/p>\n<p class=\"rGEveXCr\" style=\"display:none\">A total of $450 million has been allocated for the 2026-27 financial year.<\/p>\n<p class=\"rGEveXCr\" style=\"display:none\">Finance Minister Nicola Willis described it as an \u201cemergency savings account\u201d that she hoped the country would not need.<\/p>\n<p><img  alt=\"Finance Minister Nicola Willis. Photo \/ Mark Mitchell\" class=\"article-media__image responsively-lazy\" data-test-ui=\"article-media__image\"\/>Finance Minister Nicola Willis. Photo \/ Mark Mitchell<\/p>\n<p class=\"rGEveXCr\" style=\"display:none\">Willis pointed to forecasts of falling fuel prices, including a predicted average petrol price of $2.71 per litre.<\/p>\n<p class=\"rGEveXCr\" style=\"display:none\">The United States-Israel war with Iran had caused global fuel shocks, almost completely choking supply through the Iran-controlled Strait of Hormuz, where about 20% of the world\u2019s oil originates.<\/p>\n<p class=\"rGEveXCr\" style=\"display:none\">While ceasefire talks have increased in recent weeks, the threat of ongoing strikes hasn\u2019t abated, meaning the global disruption could persist.<\/p>\n<p class=\"rGEveXCr\" style=\"display:none\"><a href=\"https:\/\/www.nzherald.co.nz\/nz\/the-daily-h-your-fast-smart-guide-to-the-days-biggest-headlines\/VQR5CULLQRECZP2ORSWPGDORBU\/?utm_source=nzherald&amp;utm_medium=article&amp;utm_id=nz_cta\" title=\"https:\/\/www.nzherald.co.nz\/nz\/the-daily-h-your-fast-smart-guide-to-the-days-biggest-headlines\/VQR5CULLQRECZP2ORSWPGDORBU\/?utm_source=nzherald&amp;utm_medium=article&amp;utm_id=nz_cta\" rel=\"nofollow noopener\" target=\"_blank\">Sign up to The Daily H<\/a>, a free newsletter curated by our editors and delivered straight to your inbox every weekday.<\/p>\n","protected":false},"excerpt":{"rendered":"MBIE says the overall fuel stocks remain \u201cwell above\u201d the minimum requirements. Photo \/ Dean Purcell Since the&hellip;\n","protected":false},"author":2,"featured_media":432677,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1558,8604,6150,537,127,3806,30271,5504,2678,305,2959,700,83832,10110,3234,117,111,43,139,69,6379,22126,12937,13181,312,24352,19862,49649,80,2963],"class_list":["post-454841","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-zealand","tag-been","tag-caused","tag-conflict","tag-crisis","tag-despite","tag-east","tag-figures","tag-following","tag-fuel","tag-have","tag-high","tag-latest","tag-mbie","tag-middle","tag-months","tag-new","tag-new-zealand","tag-news","tag-newzealand","tag-nz","tag-ongoing","tag-petrol","tag-prices","tag-released","tag-says","tag-secure","tag-supply","tag-unpredictable","tag-zealand","tag-zealands"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/454841","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=454841"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/454841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/432677"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=454841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=454841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=454841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}