21 Apr 2020

Cheap petrol, but no demand - how low will price drop?

From Checkpoint, 5:27 pm on 21 April 2020

All the cheap petrol in the world is of no use if your car is going nowhere.

The US is facing fuel storage problems, and it is being described as a once in a lifetime event.

In New Zealand Z Energy is turning the tankers around - selling unwanted fuel back on the world market at a loss to avoid similar storage problems.

Kiwibank's chief economist Jarrod Kerr tells Lisa Owen these are fascinating times.