Z Energy says fuel supply into New Zealand remains secure despite recent delivery disruptions caused by Cyclone Vaianu and ongoing global price volatility linked to conflict in the Middle East.
In an update to customers on April 15, Z says fuel deliveries to some areas were temporarily delayed following the cyclone for safety reasons, but have since resumed.
“We’re pleased to confirm that deliveries resumed shortly thereafter, and all Z service stations and truck stops in affected areas are now fully operational.”
Z says international conditions continue to drive volatility in fuel prices, with chief executive Lindis Jones describing the current environment as potentially the largest energy shock the world has experienced.
The company says while diesel prices eased slightly this week, ongoing uncertainty is expected to keep prices fluctuating.
“While we did see the price of diesel decrease this week, it is reasonable to expect price volatility to continue while the conflict in the Middle East remains unresolved, as international fuel markets remain sensitive to ongoing geopolitical developments.”
Z says fuel pricing does not immediately reflect crude oil movements, as New Zealand imports refined fuel and pricing is influenced by multiple factors.
“Fuel prices don’t change instantly with crude oil movements, as we buy refined fuel, and pricing reflects replacement costs, shipping and exchange rates. This means changes tend to flow through gradually rather than day to day.”
The company says supply remains stable, with shipments confirmed into early winter.
“The good news is that fuel supply into New Zealand currently remains secure. Shipments are confirmed through May and into early June, and we continue to work closely with the Government to help ensure reliable supply for customers.”
Z says recent price movements are driven by global market conditions rather than domestic pricing decisions.
“While we can’t speculate on future fuel prices, recent variability is a result of global fuel market conditions rather than changes to Z’s pricing approach.”
The company says it continues to monitor supply and demand while maintaining access to international fuel markets through its relationship with Ampol.
Z says differences between truck stop and retail pricing can occur during periods of volatility, reflecting the timing of cost changes and pricing structures across channels.
