“In recent years, there has been no shortage of warnings about the fragility of New Zealand’s largely imported fuel supply.”

“Now, motorists are seeing the cost of that vulnerability at the pump. Across the country, petrol has surpassed $3.30 a litre on average.”

“On Auckland’s Waiheke Island, locals protested after prices at a local station exceeded $4 a litre.”

“The catalyst, of course, is the US and Israel’s ongoing war on Iran. It has disrupted key supply chains and pushed Brent crude, the international benchmark for oil prices, over $100 a barrel.”

“There is no sign yet of Iran ending its effective closure of the Strait of Hormuz, a narrow waterway between Iran and Oman through which roughly 20% of all the world’s oil shipments flow.”

“New Zealand prime minister Christopher Luxon has called the crisis 'one of the most significant oil shocks we’ve had in history'.”

“New Zealand is an island economy heavily dependent on imported fuel, and any sustained disruption ripples quickly through everyday costs.”

“Until 2022, the Marsden Point refinery supplied around 70% of the country’s refined fuel. Its closure meant New Zealand now relies entirely on imported petrol, diesel and jet fuel, sourced mainly from refineries in Singapore, South Korea and China.”

“Those refineries, in turn, depend on crude oil that travels through the Strait of Hormuz. In effect, New Zealand faces a double exposure: higher global prices and the risk of delayed supply.”

“The government says New Zealand currently holds around seven weeks of supply, in storage and on ships already bound for our shores.”

“Finance Minister Nicola Willis has acknowledged that buffer relies on 'ships like this continuing to turn up.' It was designed to smooth over short disruptions, not absorb a sustained global crisis. Officials are already planning for scenarios lasting eight to twelve weeks.”

“Diesel – the fuel that powers trucks, tractors, fishing boats and construction equipment – is the bigger economic problem. Its price has risen faster than petrol and its impact is wider.”

“As Luxon put it, diesel 'powers up so much of our economy' and is 'the key pacing item.' New Zealand’s economy moves on trucks. Almost everything its consumers buy at the supermarket, from the milk produced in the Waikato to the lettuce grown in Pukekohe, has been on the back of a diesel-guzzling truck.”

“In agriculture, the impact is a double blow: farmers need diesel to run tractors and milk tankers, and they depend heavily on fertilisers.”

“The Strait of Hormuz also carries significant volumes of liquefied natural gas and fertilisers.تحقیق Higher fuel and fertilizer costs are impacting farmers.”

“Treasury modeled a scenario predicting 3.2% inflation by June.”

“Air New Zealand suspended its earnings guidance and warned of potential fare increases.”

“The government provides a $50-per-week financial boost to approximately 143,000 working families with children.”

“Finance Minister Nicola Willis ruled out broader financial assistance to prevent inflationary spirals.”

“The government expanded the pool of fuel suppliers by accepting imports meeting Australian specifications.”

“New Zealand has one of the highest car ownership rates globally, with 815 light vehicles per 1,000 people in 2024.”

“Road transport accounts for nearly 40% of New Zealand's energy use, while electricity provides less than 1% of transport energy.”

“Electric vehicles constitute approximately 3% of New Zealand's light vehicle fleet.”

“Electric heavy trucks are a niche technology in New Zealand.”

“Farming, fishing, and air travel in New Zealand have no immediate electric alternatives.”

“Even with an accelerated transition, New Zealand would remain largely dependent on petrol and diesel for many years.”

“New Zealand cannot control events in the Strait of Hormuz but can reduce its dependence on it.”