Australian fuel reserves fall to alarmingly low levels: experts

CANBERRA, April 17 (Xinhua) -- Australia could run out of fuel in 43 days as it faces a shortage due to the recent conflict in Syria, experts have warned.

The warning came in the wake of airstrikes carried out in Syria by the United States, Britain and France in the past week.

Australian Senator and former major general in the Australian Army, Jim Molan, said "action" must be taken to increase Australia's fuel reserves.

"We stand in real trouble and this is a single point of failure for Australia, very similar to what could happen in a cyber situation," he told Macquarie Radio network on Monday evening.

"It happened because for too long we have taken a business-as-usual approach. It's like saying we can determine the size and shape of the Australian Defence Force based on commercial factors and making the market decide."

While Australia was not involved in the airstrikes, Prime Minister Malcolm Turnbull said on Monday evening that the Australian government was in constant contact with the U.S. regarding future involvement in Syria. The U.S. has threatened further airstrikes in the future.

According to the International Energy Agency, countries must hold stock in reserve "equivalent to 90 days of net imports," but Australia currently has 43 days' worth of fuel supply.

Australia has a heavy reliance on oil imports from the Middle East and the latest conflict could result in oil prices soaring to their highest level since late 2014. Enditem