Gasoline/diesel auto sales have moved into long-term decline

2 comments

1. Is there a tipping point where the density of ICE cars is low enough that keeping one becomes more difficult because things like gas prices rising and gas stations becoming less profitable? How quickly could having a gas car become an inconvenience?

2. It’s looking more flat than in decline, but regardless we burn oil in many ways. Oil consumption is still growing, even accelerating, but not accelerating as much as in the recent past.

   [Despite pledges by OPEC+ members to restrict oil production, crude oil prices have been relatively flat this year because of weak growth in oil demand. We forecast that global consumption of liquid fuels will increase by 1.0 million b/d in 2024 and 1.2 million b/d in 2025, which are both below the pre-pandemic 10-year average of 1.5 million b/d of annual growth, as well as below the oil demand growth seen in the pandemic recovery from 2021 to 2023. ](https://www.eia.gov/outlooks/steo/report/global_oil.php)

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