High Quality Content by WIKIPEDIA articles! The 1998 Australian Grand Prix was a Formula One motor race held at the Albert Park street circuit in inner Melbourne on 8 March. It was the 63rd race in the combined history of the Australian Grand Prix that dates back to the 100 Miles Road Race of 1928. It was the first of the sixteen races of the 1998 Formula One season and held over 58 laps of the 5.3 kilometre street circuit and the sixth to be held on the Albert Park venue first used in 1953, or the third since the new circuit first hosted the race in 1996.