Source: Radio New Zealand
Note: The livestream with Finance Minister Nicola Willis starts at 1.30pm
The government is set to give the latest update on fuel stocks, as the war in the Middle East shows no signs of ending.
Fuel prices have skyrocketed since the US and Israel launched their war on Iran at the end of February. Iran’s reaction to close off the Strait of Hormuz to most shipping has sent the global energy industry into turmoil.
New Zealand relies on imports of refined fuel, with no local refining capability.
The government has previously downplayed concerns of shortages, but has set up a National Fuel Plan with different levels of potential rationing should supplies begin to dry up.
Overall stocks were down at the last update, but still within normal variation, officials said.
The latest update is expected from the Ministry of Business, Innovation and Employment at 1pm Monday.
Finance Minister Nicola Willis is expected to take questions at Parliament from 1.30pm – watch it live here (refresh the page if the video player is not showing).
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
