While the government works to reassure New Zealanders that fuel stocks are stable, the numbers tell an uncomfortable story: the country has about 27 days of onshore cover for petrol and 17 days of diesel.

Meanwhile, the Middle East crisis remains volatile, even after today’s announcement of a two-week ceasefire.

In a country that imports all of its refined petrol, diesel and jet fuel, petrol is above NZ$3 a litre and diesel has overtaken it for the first time in history.

Roughly 80% of New Zealand’s fuel supply originates from refineries in South Korea and Singapore, which rely heavily on the Strait of Hormuz for their crude oil.

It is one of the most serious energy disruptions the world has faced. And governments everywhere are responding accordingly, some capping fuel purchases and pulling the available levers to reduce how much fuel citizens burn each day.

The Australian states of Victoria and Tasmania have made public transport free, as has Pakistan. The International Energy Agency has urged governments to pursue rapid demand reduction through public transport, teleworking and promoting walking and cycling.

In contrast, New Zealand has offered a NZ$50-per-week tax credit for an estimated 143,000 working families to ease petrol costs. A phased fuel response plan remains at its lowest setting, encouraging the public to check their tyre pressure and consider public........

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