Gordon Brown will call for a "new deal" on energy when he flies into Saudi Arabia to attend a conference.
The prime minister wants oil producers to invest some of their profits in long-term energy projects in Britain, such as wind farms and nuclear power.
Mr Brown will be attending the summit to try to press for an increase in oil production to help bring down prices.
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Public anger
Mr Brown said he wants oil producers and consumers in the West to help reduce reliance on fossil fuels.
He is facing public anger over the cripplingly high price of fuel, largely due to the cost of oil from the Organisation of Petroleum Exporting Countries (Opec).
The UK, US and other consumers have urged Opec to boost supply, blaming lack of capacity for the recent price surge.
Saudi Arabia, the top world supplier, has made slight increases but says market speculation, not lack of supply, has driven prices to nearly $140 a barrel.
Mr Brown has also said that he wants to press his Saudi hosts and the other big oil producers to consider putting some of the estimated $3 trillion they have made out of the recent "oil shock" into new nuclear technology.
Investment
The prime minister also wants backing for Britain's plans to significantly increase the use of wind and tidal energy.
Mr Brown's four-point plan, as discussed with EU leaders in Brussels, includes:
- Making the market work better to reduce volatility in oil prices
- Making the most of the world's existing oil reserves
- Accelerating the switch to alternative sources of energy
- Enabling oil producers to invest in alternative energy supplies
He said he wanted Britain and other Western countries to be given more opportunity to invest in oil in Opec countries, which have long held massive sway over international markets via their control of oil prices.
Mr Brown said: "I am going to Saudi to see if we can get a new deal between oil producers and the consumers where oil producers will invest in countries like ours, and oil consumers like us with good companies, with good technology and skills, can invest in the oil-producing countries."
On Saturday, Energy Minister Malcolm Wicks told BBC Radio 4's Today programme Britain could not lower fuel prices on its own.
"I share a frustration that we can't - in this country alone - determine these things. These are global factors," Mr Wicks said, adding that the fast-growing economies of China and India were part of the reason behind the speculative boom in oil pricing.
(BBC)
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