NZ’s petrol stocks have risen sharply, with several large shipments currently on their way to the country.
Latest government data to midnight Sunday shows diesel stocks have edged up slightly, while jet fuel inventories have declined.
There are currently 59 days’ worth of petrol supplies available, along with 45.2 days of diesel and 50.2 days of jet fuel, when including both fuel already in the country and additional shipments currently en route.
“These stock movements reflect normal shipping patterns and routine variations, and are consistent with what we would expect even without the conflict in the Middle East,” MBIE said.
The numbers compare with the previous update, which showed 51 days’ supply of petrol, 44.3 days of diesel, and 54.1 days of jet fuel.
The government said the rise in petrol stocks was driven by several large shipments recently embarking for New Zealand, while the decline in jet fuel was expected following previously elevated stock levels.
It also noted that further shipments are scheduled, with fuel continuing to arrive on a regular basis.