China’s gasoline demand set for historic plunge as Iran war, EV shift reshape energy landscape China’s gasoline demand is forecast to drop 5.5% in 2026, the second-steepest decline on record. The Iran conflict and subsequent oil price surge have accelerated a long-term shift away from gasoline vehicles. Chinese retail fuel prices have jumped approximately 30% since the Iran war began in late February. The International Energy Agency projects Chinese oil demand growth will slow to just 50,000 barrels per day this year. China’s rapid electric vehicle adoption and government policies are permanently reducing gasoline consumption. China’s gasoline consumption is on…
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