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Four months after the fuel crisis began, New Zealand appears to have entered a “new normal”. But experts warn that hard times could still be ahead.

When the conflict began in Iran in late February, a cluster of petrol stations around New Zealand ran dry.

Motorists who found there was nothing left at the pump then rushed to the nearest station, quickly depleting their tanks as well.

“It was the toilet paper effect,” said Greg Pert, director of fuel logistics company Tranzliquid, referring to the panic-buying which took place in the early stages of the Covid-19 pandemic.