China's gasoline demand peak nears as EV boom hastens transition, ET Auto
China's petrol demand could peak in 2024 as electric vehicle sales surge, posing challenges for global refiners. The shift will increase exports of motor fuel and affect refining margins in the region. As EV sales accelerate, gasoline demand is expected to decline, potentially creating a surplus in global gasoline markets by 2025. China is also focusing on petrochemical production, causing a glut and prompting investment shifts toward energy transition materials.
Source: indiatimes.com