Recent developments

New Zealand’s government increased the Petroleum or Engine Fuel Monitoring Levy (PEFML) from New Zealand dollars (NZD) 0.0065 (USD 0.0040) to NZD 0.0072 (USD 0.0044) per liter under the Notification of Levy Rates Under the Energy (Petrol, Engine Fuel, and Gas) Levy Regulations 2017 Notice 2023. This levy applies to gasoline, diesel, biodiesel and fuel ethanol. The notice took effect from July 1, 2023, and will apply until June 30, 2024.

On February 8, 2023, Prime Minister Chris Hipkins announced that the government will not continue with the Sustainable Biofuels Obligation amid possible higher prices of fuel at retail stations due to the addition of biofuels. The Sustainable Biofuel Obligation Bill was discharged on June 21, 2023.