New Zealand’s fuel reserves have seen a mixed shift in the latest government update, with total stocks of petrol and jet fuel declining while diesel levels saw a slight increase.
Fuel Stock Breakdown
According to the twice-weekly report from the Ministry of Business, Innovation and Employment (MBIE), total fuel cover as of 11:59 p.m. On Wednesday, May 13, stood at:
- Petrol: 56.2 days
- Diesel: 46.3 days
- Jet fuel: 47.7 days
These figures represent a change from the previous update based on May 10 data, which recorded 59 days of petrol, 45.2 days of diesel, and 50.2 days of jet fuel.
In-Country Onshore Levels
The report also tracks “in-country stocks,” which measure fuel physically held onshore. These levels showed a different trend:
- Petrol: 30.6 days (a slight increase from 29.6 days).
- Diesel: 19.9 days (a drop from 22.3 days), marking the lowest level recorded since April 15.
- Jet fuel: 27.1 days (a drop from 28.4 days), continuing a decline from a May 3 high of 34.4 days.
Significance and Context
A key point of observation in the latest data is the 2.8-day drop in petrol stocks. This figure fell just short of a three-day threshold, which is part of the criteria used to consider a review of fuel phase response levels.
To provide a full picture of security, total stocks data incorporates reserves held within New Zealand, fuel within the country’s exclusive economic zone (including ships at berth or moving between ports), and fuel on ships outside New Zealand waters expected to arrive within three weeks.
Despite the fluctuations, MBIE stated that these movements are consistent with routine variation and normal shipping patterns, noting that these trends would be expected even without the conflict in the Middle East.
Outlook and Supply Chain
The ministry confirmed that fuel continues to flow into the country as expected. As of May 13, twelve fuel ships were on the water, with four located within New Zealand’s exclusive economic zone and eight further out.
Regarding future stock levels, MBIE explained the cyclical nature of supply: “In normal supply cycles, large shipments arrive, and stocks are steadily used before the next vessels are loaded,” the ministry said. “This results in a pattern of large increases followed by a period of decline.”
Based on this cycle, the arrival of the twelve ships currently on the water may lead to a period of stock increases, following the current phase of decline.
