Fuel stocks in the country are maintaining stability after a notable increase in supplies last week, according to the latest government data available up to midnight Wednesday. The figures reveal a slight decrease in petrol and jet fuel supplies, while diesel has experienced a modest uptick. Currently, there are 56.2 days’ worth of petrol, 46.3 days of diesel, and 47.7 days of jet fuel available, either already in the country or en route.
Comparatively, the previous report indicated there were 59 days’ worth of petrol, 45.2 days of diesel, and 50.2 days of jet fuel. Despite the recent fluctuations, officials have confirmed that fuel stocks remain significantly above the minimum required levels and are within normal operating ranges. This reassurance comes in light of the recent pattern of large shipments reaching New Zealand, which has contributed to the observed spike in supplies.
The increase in fuel stocks last week was attributed to several large shipments that recently set sail for New Zealand. These shipments are promptly utilized upon arrival, leading to a cycle of considerable stock increases followed by periods of decline. This cycle reflects the natural rhythm of supply and demand as the market adjusts to incoming shipments.
In addition, regular shipments continue to arrive as anticipated, with fuel importers expressing confidence in their supply chains through confirmed orders extending to late June. This ongoing process ensures that despite the fluctuations, the country’s fuel supply remains robust and well-managed.