Geelong refinery fire threatens supply

The Geelong refinery, which supplies roughly half of Victoria's fuel and 10% of the national total, suffered significant damage in an overnight explosion.

While Energy Minister Chris Bowen stated the fire appears to be an accident, the timing is critical as national fuel reserves are already under strain from the Iran war.

Experts warn that petrol prices in Victoria could spike by up to 20 cents per litre as a direct result of the production slowdown.

Viva Energy management is currently assessing options to restore production volumes while monitoring the health impact of smoke on nearby residents.