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!"
no doubt in my mind that nuclear is a far more efficient way to go