Fuel reserves in the nation remain stable following a notable increase in supply the previous week. According to the latest government data available up to midnight on Wednesday, there has been a slight reduction in the supply of petrol and jet fuel by three days’ worth, while diesel stock has seen a minor rise.
Currently, the country holds 56.2 days’ worth of petrol, 46.3 days’ of diesel, and 47.7 days’ worth of jet fuel either onshore or en route. This is in comparison to the earlier report which indicated reserves of 59 days’ worth of petrol, 45.2 days of diesel, and 50.2 days of jet fuel. Despite these fluctuations, the government has assured that the fuel reserves continue to be well above the minimum requirements and are within normal operational ranges.
The surge in fuel supplies observed last week can be attributed to the recent arrival of several large shipments destined for New Zealand. These shipments are swiftly utilized, leading to a cycle where stock levels see a significant increase followed by a gradual decline as consumption occurs.
Fuel imports are proceeding as planned, with regular shipments continuing to arrive on schedule. Importers have reported strong confidence in the supply chain, supported by confirmed orders extending through to late June.