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Petrol Prices Surge as Conflict Threatens Global Oil Supply

3/19/2026

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Summary

Story summary

Petrol prices in New Zealand are expected to rise significantly after Israel's attack on Iran's Pars natural gas field.
Brent Crude rose to $US109 per barrel and could reach $US200 if the conflict escalates.
Finance Minister Nicola Willis said there could be temporary support for households affected by rising costs, particularly for low-wage workers like cleaners.

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Story summary

Petrol prices in New Zealand are expected to rise significantly after Israel's attack on Iran's Pars natural gas field.
Brent Crude rose to $US109 per barrel and could reach $US200 if the conflict escalates.
Finance Minister Nicola Willis said there could be temporary support for households affected by rising costs, particularly for low-wage workers like cleaners.