No Stupid Questions with Susan Edmunds How will the conflict in the Middle East affect me and my household?
Mar 10, 2026
Discussion of rising petrol prices and how oil-driven volatility could hit household fuel bills. Exploration of wider inflation risks as higher fuel feeds into supply-chain and food costs. Conversation about KiwiSaver volatility and what matching risk to time horizon looks like. Practical travel issues such as cancelled flights, refunds, insurance exclusions and war-related coverage limits.
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Petrol Jumped Fast After Oil Spike
- Petrol prices rose quickly as the Middle East conflict pushed up oil, and local 91 octane is already passing $3 in parts of New Zealand.
- Terry Collins and Susan Edmunds note oil started the year at ~US$60 and prices have roughly doubled, driving fast pump increases but slower falls (rocket and feather pricing).
Fuel Costs Flow Into Everyday Prices
- Higher fuel costs ripple through the economy because nearly everything relies on fuel for production or transport, making many retail prices vulnerable.
- Businesses have little fat left to cut after recent years, so they're more likely to pass increased operating costs onto consumers, especially for food.
Rates May Stay Put Because Growth Slumps Too
- The Reserve Bank may not hike rates simply because of a fuel-driven inflation spike since the conflict also weakens growth, and weak growth can keep rates steady.
- Economists say the overall negative hit to growth could outweigh inflation pressures, making rate increases less likely despite higher prices.