New Zealand Fuel Supply: Willis Assures Seven-Week Stockpile Amid Global Concerns

Finance Minister Nicola Willis has affirmed that New Zealand currently maintains a seven-week supply of fuel, including existing stockpiles, despite ongoing disruptions to global shipping routes. Her comments came during a visit to Channel Infrastructure’s Marsden Point Energy Precinct on Sunday, March 22, 2026, as concerns mount over potential energy supply issues stemming from the Iran conflict and its impact on the Strait of Hormuz.

Addressing Supply Concerns

Willis acknowledged the dependence on continued shipments, stating that maintaining the seven-week buffer relies on “ships like this continuing to turn up,” as reported by RNZ. She addressed public anxieties about potential challenges to the fuel supply, recognizing the financial strain rising fuel costs are already placing on New Zealanders.

“I realize this is having a significant effect on you already… this is having an effect on people’s budgets already,” Willis said. “Our priority is to continue to ensure New Zealanders do have access to that fuel every day.”

Targeted Support for Vulnerable Households

The government is exploring targeted support measures for low-to-middle income households and families with children, prioritizing those most affected by rising fuel prices. This approach aims to protect the economy by ensuring workers can maintain transportation and recognizing the particular vulnerability of children. Willis dismissed the idea of a blanket fuel price cut, arguing it would not effectively reach those most in require and could disproportionately benefit those already using alternative transportation methods like public transit or carpooling.

New Zealand’s Fuel Reserves Compared to Australia

Willis highlighted that New Zealand’s minimum reserve obligations for fuel are greater than those in Australia, positioning the country in a relatively stronger position.

Marsden Point’s Role and Past Debate

Marsden Point serves as New Zealand’s primary fuel import terminal. It previously housed an oil refining facility, which ceased operations in 2022, leaving the country reliant on imported refined fuels. The closure of the refining facility has been a point of contention among coalition politicians.

Current Fuel Prices

As of March 22, 2026, the average petrol price across New Zealand is $3.30 per litre for unleaded 91 and $3.61 per litre for unleaded 98. However, some stations, such as BP New Lynn, are charging significantly higher prices, with Ultimate 98 at $4.03 and unleaded 91 at $3.649 per litre.

Government Vigilance and Industry Collaboration

Willis emphasized the government’s vigilance and ongoing collaboration with fuel-importing companies to secure future fuel supplies. “We are vigilant and alert,” she stated, acknowledging the impact of rising prices on household budgets.

Additional fuel supplies have recently arrived in the country as the conflict in Iran enters its fourth week.