Table of Contents
Summarised by Centrist
The government has signed a deal with Z Energy to secure 90 million litres of diesel, equal to just nine extra days of supply, as global fuel uncertainty exposes New Zealand’s thin energy buffer.
NZ Herald deputy political editor Adam Pearse reports the fuel will be delivered to Marsden Point as one or two cargoes and stored in a refurbished tank expected to be ready from early June.
Finance Minister Nicola Willis called the deal “a practical, forward-looking step” that would strengthen New Zealand’s fuel and economic buffers during uncertainty caused by conflict in the Middle East.
Resources Minister Shane Jones said Channel Infrastructure was working quickly to prepare the storage tank, backed by up to $21.6 million from the Regional Infrastructure Fund. Z Energy will buy, own and manage the diesel, but the Crown will control when it is released into the market.
The additional supply will not count toward fuel companies’ minimum stockholding obligations.
MBIE says New Zealand currently has about 52 days of petrol, 41 days of diesel and 46 days of jet fuel either in the country or on the way. It says national fuel stocks remain within normal operating ranges.
David Seymour and Chris Bishop are considering temporary vehicle rule changes to help manage any fuel shock, including allowing some heavy vehicles to carry more weight per trip.
Winston Peters pushed back, saying weight limits exist for good reasons, including potholes and bridge strength. He accused others of using the crisis to pursue regulatory changes they had wanted for “the last 30 years”.
Read more over at The NZ Herald
Image: Atomic Taco
