It doesn't have to be PTFE lined (Teflon) but, it should be encased in braided steel, as long as it's compatible with your fuel or a just a steel tube, like factory. Braided Teflon, is lighter and smaller in diameter than the neoprene, braided hose but, also more expensive.
One thing about Teflon, is that if the braid comes in contact with a battery, the Teflon will melt. From first hand experience. The neoprene braided hose, will take a longer time to melt threw.