Jun.18 (GMM) Amid the delicate negotiations for a new grand prix contract, Melbourne's F1 race has lost the support of its local council.

City of Port Phillip mayor Janet Cribbes on Wednesday called on the state Victorian government to scrap the event.

"After 14 years, residents have had more than enough," she said in a statement.

"Why should they have to suffer the noise and the inconvenience of a car race in a park for a race whose public price tag blew out to $41.3 million last year?"

She also said the annual race "does not benefit Victoria" or the country and "doesn't stack up on economic, social or environmental grounds".

Melbourne began hosting the Australian grand prix at Albert Park in 1996.