Australia's last two refineries still matter

Australia's largest fuel supplier, Ampol, says the Iran war and subsequent fuel crisis have reinforced the need for stronger fuel security.

Speaking to Alan Kohler on the That's Business podcast, Ampol chief executive Matthew Halliday says the conflict has highlighted how quickly disruptions to global oil supplies can ripple through the Australian economy.

"It highlights the criticality and the strategic nature of refining in Australia, and does highlight the need for national fuel reserves," he said. "If you do run very tight on fuel, it does effectively flow its way right through the economy relatively quickly."

Fuel security has been in the spotlight since the Middle East war sent shock waves through global oil markets, sent prices sky-high and raised questions about potential shortages in Australia.

Full story Iran war proves why Australia's last two refineries still matter, Ampol boss says - ABC News