No relief for diesel as crude holds at $114 a barrel
Farmers are using more diesel than last year as they work while there is moisture.
|October 28, 2026Listen to the full interview:
Diesel prices are set to trend up over the next month with no relief in sight.
Fern Energy chief executive Chris Gourley says the risk of war escalating in the Middle East is holding crude at $114 a barrel, and the cost flows into New Zealand pump prices.
“There’s a lot of upward pressure in the short term,” he says.
He says supply is not the issue and demand is up on last year.
“Just buy diesel when you need it.”
He says Bluff holds only 10 to 12 days of fuel in the peak, so lifting minimum stock holdings from 23 days to 28 raises prices without fixing supply.
“We’ve got to start thinking about regional storage for fuel to support those regional ports.”
Watch the full interview:
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.
