Epoch Times | U.S. Presidential Candidates on Gas Prices

The White House said on Monday there are no quick fixes for U.S. gasoline prices that now average a record $3.60 per gallon, but those aiming to succeed President George W. Bush have proposed several solutions.

Following is a summary of their proposals:

Democratic Illinois Sen. Barack Obama

- Double fuel economy standards to 50 miles per gallon by 2026.

- Devote $150 billion over 10 years to developing alternative energy.

- Does not support suspending the gas tax, saying oil companies would simply raise prices to make up the difference.

- Investigate market manipulation of oil prices.

Democratic New York Sen. Hillary Clinton

- Suspend the 18.4-cent federal gasoline tax through the peak summer driving months. A windfall tax on energy companies would cover the revenue shortfall.

- Suspend filling the Strategic Petroleum Reserve for one year, freeing up more oil for the open market.

Senator Hillary Clinton speaks at a fundraising event at the Daughters of the American Revolution at Constitution Hall in Washington, D.C. (Nicholas Kamm/AFP/Getty Images)

- Devote $150 billion to developing alternative energy.

- Raise royalties for oil companies that drill on public land.

- Increase fuel economy standards to 55 miles per gallon by 2030.

- Investigate market manipulation of oil prices.

Republican Arizona Sen. John McCain

- Suspend the gas tax through the summer months.

- Suspend filling the Strategic Petroleum Reserve.

- Has not proposed targets for increased automobile efficiency, and voted against a 2003 measure that would have boosted standards to 40 miles per gallon by 2015.

Senator John McCain delivers remarks at Episcopal High School, where he graduated in 1954, to a crowd mostly of students, on April 01, 2008 in Alexandria, Virginia. (Paul J. Richards/AFP/Getty Images)