Card spending data masks massive increase in fuel spending

fuel nozzles at gas station — The modest growth includes a 33 per cent increase in spending at petrol stations. (Source: Bigstock)

By Sean Cao Apr 14, 2026

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The latest card spending data masks a massive surge in fuel spending, driven by the ongoing conflict in the Middle East.

Initial indicators from the Worldline network show overall card spending rose just 0.5 per cent in March. However, the modest growth includes a 33 per cent increase in spending at petrol stations.

According to Retail NZ CEO Carolyn Young, fuel is doing all the “heavy lifting” behind the mirage headline growth.

Excluding petrol, core retail spending is estimated to drop by 1.2 per cent year-on-year, which indicates consumers have aggressively cut back on their spending elsewhere.

“Every extra dollar spent on transport is a dollar lost to a local retailer,” Young remarked. “After several years of tough trading for retailers, many don’t have the financial reserves to weather another sustained setback.”

“When the official Stats NZ figures are released later this week, we expect them to confirm that while the overall number is in the black, the ‘real’ retail economy is seeing a significant downturn in volume,” she added.