Source: Radio New Zealand
Nicola Willis. RNZ / Samuel Rillstone
Energy Minister Shane Jones says there is no need for fuel restrictions at this stage, as the government provides the latest update on stocks.
And the latest data shows New Zealand continues to hold “healthy levels of petrol, diesel and jet fuel” according to Finance Minister Nicola Willis.
“As at midnight on Sunday 15 March, combined petrol, diesel and jet fuel stocks equated to about 49 days of cover nationwide, including fuel held onshore in storage terminals and fuel already on ships bound for New Zealand,” Willis said.
That was slightly down from last week, but Willis explained the change reflected normal patterns of consumption.
“They are not a sign of supply disruption.”
Willis said fuel supply is inherently dynamic, with stock levels fluctuating week to week as it was consumed and new shipments arrived.
The Ministry of Business, Innovation and Employment will now also report on the pipeline of fuel shipments on their way to New Zealand.
More than a week’s worth of fuel was scheduled to arrive in the coming days.
Jones said the government was working with industry to strengthen the frequency, quality and timeliness of fuel stock and shipping data.
“This is critical to ensuring we can identify emerging risks early and plan appropriately.”
Shane Jones. RNZ / Mark Papalii
His expectation was that fuel companies were responsive and continuing to work constructively with the government as the situation evolved.
“All indications are, so far, that New Zealand is well-placed to deal with the fallout from the closure of the Strait of Hormuz.
“I want to be clear that at this stage, there is no need for fuel restrictions. Introducing rationing or restriction measures before there is clear evidence of a genuine shortage won’t create more fuel in the system.”
Jones said if the situation changed, the government would communicate that information quickly, along with plans in place to deal with any issues.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
