Fuel prices in New Zealand continue to rise due to the Middle East conflict. On March 24, the New Zealand government announced the introduction of a temporary family assistance program to address the fuel cost crisis. According to reports from Australia's Nine News, the average price of regular unleaded gasoline in New Zealand has increased to NZD 3.32 per liter, with some gas stations charging as high as NZD 3.49 per liter. Economists predict that fuel prices may further rise to NZD 4 per liter.
As reported by Radio New Zealand, to alleviate the cost-of-living pressure caused by rising fuel prices, the New Zealand government announced a fuel subsidy plan on the 24th. Approximately 150,000 households will receive NZD 50 per week in support. New Zealand Finance Minister Nicola Willis stated that the subsidy will be distributed through the Working for Families tax credit, primarily targeting middle- and low-income working families with children. The policy will be implemented for up to one year.
To increase fuel supply, New Zealand’s Deputy Energy Minister Shane Jones indicated that New Zealand’s fuel standards may align with Australia’s, allowing fuel originally destined for Australia to be imported into New Zealand. Willis noted that New Zealand’s current fuel supply is normal. All fuel has arrived as scheduled, and fuel importers have expressed no concerns about future orders.