Demand for gasoline dropped in 2020 as the COVID-19 pandemic brought much of the world to a standstill. The International Energy Agency (IEA) predicted Wednesday that gasoline won't ever fully recover. "We do not think gasoline consumption will come back to 2019 levels again," said IEA Executive Director Fatih Birol.
The IEA released its five-year forecast hours after BMW became the latest automaker to announce a big shift to electric vehicles. But battery-powered cars and trucks were only one of the factors that convinced the Paris-based energy monitor that we've reached peak gas demand, The Wall Street Journal reports. New gasoline-powered vehicles are also more fuel-efficient, the IEA noted, and the rise of working from home will likely change commuting practices.
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