{"id":11119,"date":"2026-03-16T14:06:10","date_gmt":"2026-03-16T01:06:10","guid":{"rendered":"https:\/\/cvnznews.com\/?p=11119"},"modified":"2026-03-16T14:06:12","modified_gmt":"2026-03-16T01:06:12","slug":"no-need-for-panic-as-reassurances-given-over-fuel-supplies","status":"publish","type":"post","link":"https:\/\/cvnznews.com\/?p=11119","title":{"rendered":"No need for panic as reassurances given over fuel  supplies"},"content":{"rendered":"\n<p>Finance Minister <strong>Nicola Willis<\/strong> says the Government is meeting daily as global tensions triggered by the Iran conflict begin to place pressure on New Zealand\u2019s fuel supplies and wider supply chains. While ministers insist there is <strong>no need for panic<\/strong>, signs of strain are emerging at the pump, with <strong>unleaded 91 reaching $3.15<\/strong> at some stations and isolated reports of service stations temporarily running out of fuel as some motorists begin <strong>hoarding<\/strong>.<\/p>\n\n\n\n<p>Speaking at a press conference on Monday, Willis outlined the Government\u2019s three\u2011pillar response: <strong>supply chains, freight disruptions, and economic support<\/strong>.<\/p>\n\n\n\n<p>Willis said officials are working closely with fuel importers under the <strong>national fuel plan<\/strong>, monitoring stock levels and preparing to intervene if needed. The main areas of concern include <strong>fuel, plastics, fertiliser and bitumen<\/strong>, all of which rely heavily on global shipping routes now affected by the conflict.<\/p>\n\n\n\n<p>\u201cWe do anticipate working with fuel companies if needed to secure orders. There is a role for diplomacy here,\u201d Willis said, noting that New Zealand may coordinate with partners such as <strong>Australia and Singapore<\/strong> to maintain supply.<\/p>\n\n\n\n<p>New Zealand currently holds <strong>32 days of petrol onshore<\/strong>, with another <strong>25 days\u2019 worth already en route<\/strong>. Thirteen fuel ships are heading toward the country, with three more preparing to depart.<\/p>\n\n\n\n<p>The conflict has already forced some cargo to be rerouted. Willis confirmed that stock originally destined for Middle Eastern ports has required <strong>new food safety certifications<\/strong> to divert elsewhere. \u201cSome stock on the water has been turned around,\u201d she said, highlighting the fragility of global shipping lanes.<\/p>\n\n\n\n<p>Fuel prices have climbed <strong>45\u201350 cents per litre<\/strong> since the conflict began. While still below the 2022 peak following Russia\u2019s invasion of Ukraine, Willis warned prices could rise further.<\/p>\n\n\n\n<p>She dismissed calls for temporary fuel tax cuts, arguing they are <strong>not targeted<\/strong> and would undermine the Government\u2019s principle of providing support that is \u201ctemporary, timely and targeted.\u201d<\/p>\n\n\n\n<p>Treasury modelling suggests inflation could rise to <strong>3.7%<\/strong>, its current worst\u2011case scenario, if global pressures intensify.<\/p>\n\n\n\n<p>Energy Minister <strong>Simon Watts<\/strong> has been in contact with counterparts in Japan, South Korea and Singapore. South Korea\u2019s key message, Willis said, was to <strong>maintain export levels<\/strong> to discourage hoarding behaviour.<\/p>\n\n\n\n<p>The Government will provide a <strong>public update on fuel supplies on Wednesday<\/strong>, with Willis emphasising that while the situation is evolving, New Zealand remains well\u2011positioned and there is <strong>no cause for panic buying<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister Nicola Willis says the Government is meeting daily as global tensions triggered by the Iran conflict begin to place pressure on New Zealand\u2019s fuel supplies and wider supply chains. While ministers insist there is no need for panic, signs of strain are emerging at the pump, with unleaded 91 reaching $3.15 at some<\/p>\n","protected":false},"author":1,"featured_media":10280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[860,178,113],"coauthors":[709],"class_list":{"0":"post-11119","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-zealand","8":"tag-fuel","9":"tag-iran","10":"tag-new-zealand"},"_links":{"self":[{"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/posts\/11119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11119"}],"version-history":[{"count":1,"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/posts\/11119\/revisions"}],"predecessor-version":[{"id":11120,"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/posts\/11119\/revisions\/11120"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/media\/10280"}],"wp:attachment":[{"href":"https:\/\/cvnznews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11119"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcoauthors&post=11119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}