All eyes on diesel as Govt set to release latest fuel stocks update

The Ministry of Business, Innovation and Enterprise will release its latest fuel stock figures about 1pm today, showing how much petrol, diesel and aviation fuel is in the country. MBIE will also reveal how much is on the water and due to arrive in the next three weeks. This story will update with the latest numbers at 1pm. The Government usually sees the latest fuel numbers the morning before they are published. Prime Minister Christopher Luxon told Newstalk ZB’s Mike Hosking Breakfast stocks were in “good shape”, although he added he did not know the actual numbers. “I just know there has been no challenges in the last week or so - ships have been arriving and that’s been added to our stocks.” Luxon said he was trying to get any additional orders of fuel that appeared on the market. “That’s unsolicited bids over and above fuel we’re already getting - this is us being quite opportunistic,” Luxon said. MBIE was forced to clarify its numbers last week after it did not count ships currently unloading fuel in New Zealand, causing commentators to forecast an immense diesel crunch by Easter. Revised data, published on Thursday morning showed this was not the case. New Zealand has 46.4 days’ cover of diesel in the country or coming before April 12. Overall, New Zealand has 48.6 days’ cover for all fuels, including stocks in New Zealand and on the water. Its latest data shows six ships are now discharging fuel in New Zealand’s ports, carrying 19.8 days’ worth of petrol, 11.6 days of diesel and 11.7 days of jet fuel. .nz-table-wrap { max-width: 900px; margin: 24px auto; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Arial, sans-serif; } .nz-table-title { font-size: 20px; font-weight: 700; margin: 24px 0 8px; border-bottom: 3px solid #000; padding-bottom: 6px; } .nz-table { width: 100%; border-collapse: collapse; font-size: 15px; } .nz-table thead th { text-align: left; font-weight: 600; padding: 10px 8px; border-bottom: 2px solid #000; } .nz-table tbody td { padding: 10px 8px; border-bottom: 1px solid #e5e5e5; } .nz-table tbody tr:nth-child(even) { background-color: #fafafa; } .nz-table td:first-child, .nz-table th:first-child { font-weight: 600; } .nz-note { font-size: 13px; color: #666; margin-top: 6px; } @media (max-width: 600px) { .nz-table { font-size: 13px; } .nz-table-title { font-size: 18px; } } Fuel stock levels (days cover at Sunday 22 March) Stock Petrol Diesel Jet fuel Total In-country 24.5 18.1 20.1 20.7 On-water 24.2 28.3 33.3 27.9 Total NZ stock 48.7 46.4 53.4 48.6 Incoming fuel shipments Vessels Arrival window Petrol Diesel Jet fuel 6 Currently discharging / in NZ ports 19.8 11.6 11.7 1 23–29 March 0.0 4.2 0.0 2 30 March – 5 April 1.3 7.2 11.7 4 6–12 April 3.0 5.4 9.9 Total (13) 24.2 28.3 33.3 Source: MBIE fuel stocks update Last week, the Government unveiled a four-step fuel plan that would restrict the use of different fuels as they became more scarce. New Zealand is at phase 1 of the plan for all fuels, but some commentators have urged the Government to move sooner. Westpac chief economist Kelly Eckhold told RNZ’s Morning Report it would be wise to start prioritising diesel supplies. “Diesel that we burn now could be...

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