Gasoline Demand Continues To Grow Despite EV Boom

Increased adoption of electric vehicles in the United States and China is expected to put a major dent in gasoline demand growth this year. In one of the most telling statistics about the penetration of EVs into the global market we’ve seen yet, global consultancy Wood Mackenzie projects that gasoline demand growth will reduce by half over the course of 2024.  China is on a stratospheric growth trajectory in terms of EV production. 60% of all EV sales in the world are made in China, and EVs are expected to represent 40% of…