Photo: RNZ
New Zealand is signed up to an International Energy Agency Treaty which means it must hold oil stock equivalent to 90 days of net imports.
In the past, the costs were funded through general taxes, but legislation being considered by Parliament will add a levy to help meet the costs.
The Ministry of Business, Innovation and Employment has recommended a levy which would total about 4.5 cents for a 40 litre tank of fuel.
This is in addition to petrol excise duty, which the Government increased by three cents a litre in July last year, and will do so again in July this year, and in 2015.
The bill on the fuel levy passed its first reading by 77 votes to 41 with the support of the Greens, the Maori Party, ACT and United Future, and will now be considered by the Commerce Select Committee.
