Petrol and jet fuel dip, diesel up in latest fuel update

New Zealand’s stocks of petrol and jet fuel have dipped but diesel levels have lifted in the Government’s latest update.

As of May 13, there were 56.2 days’ worth of petrol either in the country or on its way within three weeks. That was down from 59 days in the Ministry of Business, Innovation and Employment’s previous update last week.

Levels of jet fuel had also decreased from 50.2 days’ worth to 47.7 days.

However, diesel stocks had risen to 46.3 days’ worth, an increase of about one day since the last update.

There were four ships carrying fuel expected to reach New Zealand within two days. They held 7.1 days’ worth of petrol, 9.6 days of diesel and 7.6 days of jet fuel.

Onboard the eight ships expected to arrive within three weeks, there was 18.5 days’ worth of petrol, 16.8 days of diesel and 13 days of jet fuel.

The ministry said the fuel levels reflected “normal shipping patterns” and were consistent with expectations even without the impact of the United States/Israel war with Iran.

“In normal supply cycles, large shipments arrive and stocks are steadily used before the next vessels are loaded. This results in a pattern of large increases followed by a period of decline.

“Overall fuel stocks remain well above minimum requirements and within normal ranges, with regular shipments continuing to arrive as expected.”

It said fuel importers had expressed confidence fuel orders would be fulfilled to late June with planned orders extending into early August.

Adam Pearse is the Deputy Political Editor and part of the NZ Herald’s Press Gallery team based at Parliament in Wellington. He has worked for NZME since 2018, reporting for the Northern Advocate in Whangārei and the Herald in Auckland.