Geelong refinery fire impacts supply

The refinery has restored approximately 80% of its overall production, but crucial units for diesel and aviation fuel remain at limited capacity.

Supply chain experts warn that petrol prices in Victoria could jump by as much as 8 cents per liter as a result of the disruption.

The fire comes at a critical time as the war in Iran has already strained global energy markets and sent domestic costs to record highs.

Foreign interference has been ruled out as a cause, but the incident has renewed calls for Australia to increase its domestic refining capacity and fuel security reserves.