LITTLE ROCK—Solutions to high gasoline prices might lie in changes Congress could bring about in the energy market, U.S. Sen. Mark Pryor said Wednesday.

“I think if you look at supply and demand right now, to me that doesn’t seem to be the real problem,” the Democrat from Arkansas said in his weekly teleconference with news reporters.

Pryor said a bipartisan group of 10 senators would study the market and would work with other congressional members to come up with the best legislative package to address the energy crisis. U.S. Sen. Blanche Lincoln, D-Ark., is a member of the group, also.

Pryor said that, two years ago, worldwide consumption of oil was 84 million barrels a day. Now, consumption is at 85 million barrels, he said. And while the price of oil should be about $80 a barrel, it has risen to above $140, he said.

Other measures can reduce gas prices, he said, but the group wants to focus on the market to bring the quickest results. Pryor said he favors fuel-efficient vehicles, but it will take years before they will be widely available. He also favors responsible drilling in the outer-continental shelf and offshore drilling if states can have control over whether companies can drill off their shores.

He doesn’t currently support imposing a national speed limit of 55 mph, although that restriction was effective in the 1970s. He said reducing the speed limit might be considered next year when Congress takes up transportation legislation.