Gordon Brown calls for drop in oil prices at Saudi Arabia summit

Households, motorists and businesses already under pressure from rising oil prices could continue to suffer ‘uncertainty and unpredictability’, the Prime Minister told an energy summit in Saudi Arabia.

He said the bleak situation - prices have risen four-fold in a decade - could be eased only if the West struck a ‘global new deal’ with oil-rich nations.

Britain's Prime Minister Gordon Brown speaks with Saudi Arabia's Foreign Minister Prince Saud Al-Faisal in Saudi Arabia

He reiterated his desire to see Gulf states, including Saudi Arabia, invest billions of pounds in wind, solar and nuclear power plants in Britain.

He also revealed talks had begun with Abu Dhabi, Qatar and the United Arab Emirates on directing their wealth into renewable energy in the UK.

Mr Brown suffered a blow when OPEC president Chakib Khelil rejected his call for an increase in oil production to meet demand and curb price rises at Britain’s petrol stations as ‘illogical’.

Summit: Gordon Brown said he was optimistic after the event concluded

Mr Khelil blamed rising prices on speculation, a falling dollar and high tax levies.

King Abdullah of Saudi Arabia linked soaring oil prices to speculators, high fuel taxes in consuming countries and increased consumption.

The world’s largest oil producer, however, has already announced plans to lift daily quotas to 9.7million barrels by the end of July - an increase of about 500,000 barrels since May - and would be prepared to pump more if needed.

Mr Brown was the only world leader to attend the Jeddah Energy Summit, attended by 35 countries and 15 oil company executives.

In a speech he said a ‘greater commonality’ between producers and consumers was needed to end the ‘uncertainty and volatilty’ surrounding oil prices, which had a ‘severe impact on standards of living everywhere’.