Mexican Media Brands
EVs Could Cut U.S. Gasoline Sales 20% in 20 Years
An accelerating market for electric cars will reduce gasoline demand in the U.S. at least 5%—and perhaps as much as 20%—over the next two decades, predicts Edinburgh-based energy industry consultants Wood Mackenzie Ltd.
#economics #hybrid
Share
An accelerating market for electric cars will reduce gasoline demand in the U.S. at least 5%—and perhaps as much as 20%—over the next two decades, predicts Edinburgh-based energy industry consultants Wood Mackenzie Ltd.
Americans currently consume more than 9 million barrels of gasoline per day. If EVs can push their share of the U.S. passenger vehicle market from less than 1% today to 35% by 2035, consumption could drop by as much as 2 million bpd, according to the analysis.
But report author Prajit Ghosh tells The Wall Street Journal a more likely scenario is that EVs will account for roughly 10% of the U.S. car market in 20 years. That share would result in a 5% decline in gasoline demand, he estimates.
Meanwhile, AAA’s Daily Fuel Gauge Report says gasoline demand in the U.S. appears likely to reach a record high for the summer driving season. The average price for a gallon of unleaded regular gasoline is a $2.33, down 5 cents from a week ago and 47 cents below the year-ago average.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.