You could also reduce prices by allowing drilling of oil in those areas which are currently off limits. (A temporary fix, to be sure, but fairly quick, too.) Problem is, that might inconvenience some caribou or polar bears or something. You could also start building many more nuclear reactors, then give people tax incentives to switch their home heating systems over to electric, saving plenty of oil. But, "radiation! Bad, bad, bad!"
The real problem is that people want to have their cake and eat it too. The real world doesn't work that way. You have to pay something for everything, one way or another. TANSTAAFL.