The fluid in your PAS is most likely to be ATF to Dexron II. Your dealer (or the car handbook) should tell you this (you need the spec of the fluid - not just a vague description like "Volvo PAS fluid"). If it's a thin oil and red in colour, then it's ATF. Halfords have an application guide for oils, you could try checking this for the correct grade (in store only).
Most motor factors sell ATF in 500ml bottles - an independant make should set you back around £2 or a top brand £3 or so. Some factors sell it in 250 ml bottles labeled as PAS fluid. As long as you keep the bottle closed it will keep on your garage shelf indefinately.
How low is 'low'? The reservoir should have a max & min mark - you will only need to top up if the fluid is below the min mark. Unless there is a leak the fluid cannot go anywhere, so it's likely the level has been like this from new. If you have the slightest suspicion the level has gone down, then top up to a known mark and monitor the level over a few weeks or months. If it does go down, have the leak traced and fixed.
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