Plans to sell Shell's Geelong refinery could lead to dependence on volatile foreign fuel markets. Source: AAP
AUSTRALIA'S fuel supply could be exposed to foreign volatility in the wake of Shell's plans to sell its Geelong refinery, say industry experts.
The global oil giant says it will sell the refinery with a view to keeping it open, but may convert it to a fuel import terminal if a buyer isn't found by the end of next year.
Melbourne University economics lecturer Dr David Byrne says any threats to local refineries mean more dependence on potentially volatile foreign markets.
"You might be exposing yourself to risk inherent to refining fuel in foreign markets," Dr Byrne told AAP.
"When you refine domestically you might have more control over that in a situation of a crisis."
NRMA director Graham Blight said political instability along supply routes could put Australia's fuel supply at risk.
"If our supplies stop I can assure you this country is in trouble," he told Fairfax Radio.
Mr Blight said he doubted importing fuel would lead to cheaper prices, with Australia at the end of long trade routes.
Dr Byrne said while foreign refining could bring retail prices down, transport costs had to be taken into account.
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