Does the Government consider current fuel storage levels adequate in the event of a geopolitical crisis, if so, why?

Answer

New Zealand has the minimum stockholding obligations that require fuel importers to hold 28 days' cover for petrol, 24 days' cover for jet fuel and 21 days' cover for diesel, alongside fuel held across the supply chain and international arrangements through the International Energy Agency. MBIE is publishing regular fuel stock updates to provide transparency on fuel availability and current fuel storage levels are assessed as sufficient to support resilience during supply disruptions. These settings are designed to provide resilience during supply disruptions. Fuel storage levels and supply conditions are reviewed continuously and assessed in light of changing circumstances. The Government will enter into an agreement to support an additional 90 million litres of storage for diesel at Marsden Point to further boost diesel storage.