# Potential first Australian oil refinery in 60 years amid war-driven inflation fears

Australia may build its first oil refinery in 60 years as the Middle East conflict threatens to drive up inflation. The country's treasurer is preparing for the economic impact, while the new refinery could reduce dependence on foreign fuel imports.

**Importance:** 3/5

## Sources

### World
- [The Guardian World](https://www.theguardian.com/australia-news/2026/jul/27/potential-for-first-australian-oil-refinery-in-60-years-as-treasurer-braces-for-inflation-from-middle-east-war) — Mon, 27 Jul 2026 12:30:09 GMT