Australia will not send navy ships to protect oil tankers in the Strait of Hormuz, a senior government minister said on Monday.

Australia is well-prepared for the "economic crisis" caused by the ongoing conflict in the Middle East and would not be sending a warship to the region, said Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King, also a member of Prime Minister Anthony Albanese's Cabinet, according to the Australian Broadcasting Corporation (ABC) radio.

King said that Australia's fuel stockpile was sitting at 37 days of petrol, 30 days of diesel and 29 days of jet fuel as of Monday after the government reduced minimum stockholding obligations and temporarily amended fuel quality standards to allow higher sulfur levels.

"We're well-prepared here in this country to weather the economic crisis that is occurring as a result of the Middle East," she said.

The federal government on Saturday issued a warning to citizens not to transit through Bahrain, Iran, Iraq, Israel, Kuwait, Lebanon, Palestine, Qatar, Syria, Yemen and the United Arab Emirates (UAE).

The Department of Foreign Affairs and Trade had previously issued travel warnings for all of those countries through its Smartraveller service, but said on Saturday that Australian citizens should also avoid transiting through them, even if they do not plan to leave the airport.

It said that the conflict is likely to escalate further and flights could change or stop suddenly.