Weekly Fuel Market Watch

This report monitors the global and domestic factors impacting fuel prices for New Zealand consumers, including crude oil benchmarks, refining margins, and import dynamics.

Key Takeaways

• 1.Fuel prices at the pump for New Zealanders are determined by a combination of global factors including crude oil benchmarks, refining margins, freight costs, and the NZD/USD exchange rate.
• 2.Since the 2022 closure of the Marsden Point refinery, New Zealand has transitioned from importing crude oil to importing refined fuel products exclusively.

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 of 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 5

Subscribe for full accessStart Free Trial