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3 Mar 2026 5:08
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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

    Law and Order:
    A Police scene guard's been in place at a Whangarei property, as officers investigate an unexplained death 4:57

    International:
    Weekend of war: Key moments from the first 48 hours of strikes in the Middle East 21:07

    Accident and Emergency:
    A man's been taken into custody after armed police attended a family harm callout in Waikato's Parawera, southeast of Te Awamutu 19:07

    Cricket:
    Black Caps coach Rob Walter is grateful their subcontinent travels at the T20 World Cup are not done yet 18:57

    Rugby:
    A new job for Kiwi rugby coach Wayne Pivac 18:37

    Living & Travel:
    Last total lunar eclipse until 2029 is coming tomorrow – don’t miss it 18:17

    International:
    Iran's next supreme leader may have been waiting for this moment to rise 18:17

    Rugby League:
    Warriors halfback Luke Metcalf has declared his comeback to the NRL on track but is refusing to narrow down a date 18:07

    National:
    Strait of Hormuz: if the Iran conflict shuts world’s most important oil chokepoint, global economic chaos could follow 18:07

    Business:
    Foodstuffs is again trying to bring its North and South Island operations under one roof - after failing two years ago 18:07


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