Geelong Oil Refinery Fire

The blaze at one of Australia's only two operating oil refineries has raised urgent fears about petrol price spikes and short-term outages.

Emergency crews worked for over 12 hours to extinguish the fire, which was reportedly caused by a gas leak in the motor petrol production unit.

The incident comes at a critical time as the country faces growing pressure to secure fuel supplies amid global disruptions linked to the Iran war.

While management is confident in restoring production, experts warn that Victorian motorists could see prices rise by as much as 20 cents a liter in the coming days.