Too many 'ifs' around the Iran war for our Finance Minister to guarantee all will be well down the track.
There are differing reports as to whether the Strait of Hormuz is actually open following a ceasefire deal between the US and Iran.
New Zealand has more than 60 days of petrol and 50 of diesel.
Nicola Willis told Mike Hosking a sustained ceasefire and movement of ships paints a better inflation picture, but it all depends on if this happens.
She's also conscious that even when the strait opens, major energy market disruption will persist.
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The Mike Hosking Breakfast