Potential for first Australian oil refinery in 60 years as treasurer braces for inflation from Middle East war

Australia is planning its first new oil refinery in six decades as part of a government strategy to shield the nation from future global energy shocks. The commonwealth and Western Australia will jointly fund a four-million-dollar feasibility study into the project, which would become Australia's third large-scale petrol refinery. The Guardian reports the move reflects concerns about fuel vulnerability amid geopolitical tensions and inflation pressures. The refinery, if approved, could strengthen the nation's energy independence.

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