There's suspicions speculation around Chris Luxon's future won't be subsiding, even after he firmly ruled out stepping aside. 

This week's Taxpayers' Union-Curia Poll has National down to 28.4 percent, with Labour able to govern alongside the Greens and Te Pati Maori. 

The Prime Minister's assured the public he had his MP's backing and won't be going anywhere.

Taxpayers' Union Executive Director Jordan Williams says this week's been a challenging one from Chris Luxon.

"The real significant event this week in terms of the election is the unexpected economic headwinds we now appear to be in - the events in the Middle East are not going to be over in a week or even a month now, it's looking to be quite a lot longer, and the implications on the New Zealand economy is certainly a challenge."

Former Labour Chief of Staff Neale Jones says the speculation over Chris Luxon's political future is 'fatal' - regardless of whether or not it's true.

"The problem he's got is that it's never a good thing when you have to ring up and say - I'm not resigning. I think that spoke to the crisis he was in this week."

LISTEN ABOVE

• Barry Soper on Luxon, the Middle East and petrol
• 'Absolutely not': Christopher Luxon defends his position as Prime Minister
• Speculation mounts about PM Luxon's future as National sinks in latest poll
• 'I am not happy with that number': Willis reacts to PM Luxon's dire new poll