Impact of the Middle East conflict on our fuel security

Due to the Middle East conflict, the number of tankers transiting the Strait of Hormuz has come to a near standstill. The Strait of Hormuz is a key chokepoint for global oil trade, facilitating the passage of around 25 per cent of the world's seaborne oil trade. Around 80 per cent of the crude that passes through the Strait is destined for Asian refineries, which supplies New Zealand the petrol, diesel and jet fuel we consume domestically.

From 1 January 2025, fuel importers must hold minimum levels of fuel, either onshore or in our EEZ. Fuel importers must hold:

• 28 days' cover of petrol
• 24 days' cover of jet fuel
• 21 days' cover of diesel.

Information about the minimum stockholding obligation

MBIE is actively assessing the fuel security situation for New Zealand following the recent events in the Middle East and is in close contact with fuel companies. It has convened the Fuel Sector Coordinating Entity under the National Fuel Plan, a group consisting of fuel importers and distributors.

Fuel companies report no current issues with supply chains.

As at midnight of Sunday 1 March 2026, New Zealand has healthy stock levels, both onshore and en route. These numbers will be updated weekly on a Wednesday.

New Zealand is a member of the International Energy Agency (IEA). The IEA is monitoring developments in the region and is in contact with major producers and member states, which includes New Zealand.

New Zealand's participation in the International Energy Programme

More information about what the Government has been doing to ensure and improve fuel resilience.

MBIE media contact

Email: [email protected]