DOHA, Qatar — Treasury Secretary Paulson said yesterday that there was no quick fix to high oil prices, which he called an issue of supply and demand.

Mr. Paulson said inflation in the Gulf is “significant” but suggested that Gulf countries pegging their currencies to the weak dollar was not the only reason for it. He said it was a “sovereign decision” by each country whether it wants to de-peg its currency from the dollar.

Speaking to reporters in the tiny Gulf nation of Qatar, Mr. Paulson also acknowledged the American economy was experiencing a “downturn” and reiterated that a strong dollar was in the American interest.

The Treasury chief was in the Mideast to deliver a message to officials of Saudi Arabia and other oil-producing nations that soaring oil prices are putting a burden on the global economy. He is urging the countries to open up their oil markets to investment that can boost yields, exploration, and production.

With oil at record-high prices, Mr. Paulson said there is “no quick fix” because it is an issue of supply and demand. Global demand remains strong while “production capacity has not seen new development,” Mr. Paulson said.

“I don’t see a lot of short-term answers,” he added.

He said he would like to see “increased investment throughout the world in oil and gas and alternative sources of energy.”