Fuel crisis fears as unleaded 91 petrol jumps 10 cents in days, stations run dry

Fuel prices have surged 10c in two days across the country, with some fuel pumps running dry under the increased demand.

The average price of 91 grade has hit a near four-year high as the Middle East conflict has continued into its third week.

The average price of unleaded 91 petrol has surpassed $3.10, which is a 20% increase over the past 28 days.

The average price was just $2.49 15 days ago.

According to the Gaspy fuel price comparison website, the average price of diesel has jumped to $2.80, which is a 93.2c increase over the same period.

The last time New Zealand crossed the $3 threshold was in early March 2022, immediately following Russia’s invasion of Ukraine.

It went on to peak at $3.12.

According to Gaspy, the two cheapest petrol stations across the country are in Mangawhai.

Gull Mangawhai recorded the lowest price of $2.74 for unleaded 91.

Earlier this week, Finance Minister Nicola Willis urged motorists not to panic-buy despite the skyrocketing prices.

“There isn’t any need to panic-buy,” Willis said.

“If international supplies are disrupted, the Government has a range of options open to ensure those who most need fuel continue to have access to it, but we are not yet at the point where additional action is required.”

According to the Ministry of Business, Innovation and Employment (MBIE), New Zealand currently has a 32.8-day supply of petrol in the country, with another 25.2 days on its way.

The nation’s regulated Minimum Stockholding Obligation (MSO) is a 28-day supply.

There is currently a 27.6-day supply of diesel on Kiwi soil, with another 22.3-day supply set to arrive.

According to VesselFinder, there are several tankers set to arrive over the coming days.

Two tankers were scheduled to arrive in both Lyttelton and Tauranga today.

Fuel prices have surged past the $3 threshold across the country, with some fuel pumps running dry under increased demand. Photo / 123rf

Petrol stations run dry

Kiwis nationwide are reporting that their local stations have run out of petrol this week.

Yesterday, a local said the Mobil in Warkworth ran out of unleaded 91 petrol for a short time, but has since been back up and running.

At least six Gull stations were affected last Thursday after prices were cut by 14c a litre on discount day, prompting a surge of demand from motorists.

More stations ran dry over the weekend, with the Gull station in Titirangi running out of unleaded 91 on Saturday.

Waitomo chief executive Simon Parham told the Herald one of its sites ran dry over the weekend due to terminal loading being delayed by two hours.

“Other than that, our network was continuously replenished,” he said.

Parham said that as of today, demand has dropped back to a normal level after a spike during the first two weeks of the conflict.

“There was always going to be a sort of lag when all that demand that got pulled forward into the first two weeks started to show itself,” he said.

Gull and Z Energy have been approached for comment.

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