> China’s gasoline demand is estimated to have fallen 9% in October on the year to 12.5 million tons, with average daily use roughly flat with September, according to Chinese consultancy Sublime China Information (SCI).
> Gasoline consumption in the world’s biggest importer of crude peaked in 2023 and the research unit of state oil company Sinopec expects demand to fall more than 4% this year from 2024.
> During the first nine months of the year, EVs and hybrids made up almost half of all new car sales.
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> China’s gasoline demand is estimated to have fallen 9% in October on the year to 12.5 million tons, with average daily use roughly flat with September, according to Chinese consultancy Sublime China Information (SCI).
> Gasoline consumption in the world’s biggest importer of crude peaked in 2023 and the research unit of state oil company Sinopec expects demand to fall more than 4% this year from 2024.
> During the first nine months of the year, EVs and hybrids made up almost half of all new car sales.
Sounds like progress