This episode featured as part of the Machinery segment in partnership with Carrfields Machinery.

Diesel has broken through $3 a litre as conflict in the Middle East and Ukraine tightens global oil supply. Fern Energy chief executive Chris Gourley says disruption to shipping through the Strait of Hormuz, attacks on Russian infrastructure and China drawing down its crude stockpile are adding pressure, with demand for diesel and jet fuel continuing to outstrip supply.

He says New Zealand has fuel on the water and there is no supply issue for spring, though prices could ease slightly this week. He does not expect $1.80 a litre again in the medium term.

“I reckon the market’s changed forever,” he says.

His advice to farmers is to buy fuel as normal rather than trying to time the market.

This episode featured as part of the Machinery segment in partnership with Carrfields Machinery. To learn more, visit www.carrfields.co.nz 

CountryWide CONNECT with Andy Thompson & Sarah Perriam-Lampp is our daily rural show livestreamed from 11am-1pm. Visit country-wide.co.nz on how to watch/listen or download the CountryWide CONNECT mobile app, available on Apple iOS and Android.

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