Weekly Fuel Market Watch

This ANZ chart pack provides a comprehensive weekly analysis of the global and domestic factors influencing fuel prices and their impact on New Zealand's inflation.

Key Takeaways

• 1.New Zealand's retail fuel prices are influenced by a complex interplay of global factors (crude oil, refining margins, freight, exchange rates) and domestic components (taxes, distribution).
• 2.Since the closure of the Marsden Point refinery in 2022, New Zealand has transitioned to importing 100% refined fuels rather than a mix of crude and refined products.
• 3.While Brent is the global benchmark, Asian refineries supplying NZ typically source crude from the Persian Gulf, making Murban crude a critical price indicator.

Table of Contents

• Introduction
• ANZ card spending at fuel stations
• National weekly average price paid by consumers as of last Friday
• Crude prices expressed in NZD
• Singapore refined fuel prices expressed in NZD (Petrol)
• Singapore refined fuel prices expressed in NZD (Diesel)
• Crack spreads
• Refining margins
• Spot-front spread
• Brent futures curve – the market's take
• Brent futures – The evolving shape of the curve
• New Zealand's fuel supply (days cover)
• Strait of Hormuz vessel crossings
• Freight costs
• Breaking down the price Kiwis pay at the pump (petrol)
• Breaking down the price Kiwis pay at the pump (diesel)
• The New Zealand dollar
• OPEC estimated monthly production
• Monthly fuel imports by country (main suppliers)
• Fuel imports by country of origin (historical)
• Fuel supply by method
• Fuel demand by main sector (time series)
• Diesel and petrol end use in "normal times"
• Diesel end use: Breakdown of non-road transport in “normal times”
• Petrol end use: Breakdown of non-road transport in "normal times"

Document Preview

Page 1 of 1

Subscribe for full accessStart Free Trial