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3 Mar 2026 10:44
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  •   Home > News > Politics

    The conflict in the Middle East has seen oil prices jump - and could mean higher costs at the pump

    The conflict in the Middle East has seen oil prices jump - and could mean higher costs at the pump


    But Finance Minister Nicola Willis says it doesn't mean we need to re-think the Marsden Point oil refinery.

    It ceased refining operations in 2022 and has been converted to an import only fuel terminal.

    Willis says it would still have needed to import the oil - but adds there's some resilience in the system.

    She says last year the Government made changes which mean fuel suppliers here have to keep 28 days of fuel in reserve.

    © 2026 Newstalk ZB, NZCity

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     Today's News

    National:
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    National:
    Why did Iran bomb Dubai? A Middle East expert explains the regional alliances at play 10:27

    Business:
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    National:
    The oil price surge is just one symptom of a supply chain network that is not fit for this age of global tensions 10:17

    Education:
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    International:
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    Entertainment:
    Industry is to end after its fifth season 10:05

    Soccer:
    One of the last elements of the All Whites' World Cup plan is in place 9:27


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