[baron95]

Western governments will keep pushing EV light vehicle adoption. Out of a barrel of oil there is only a small adjustment that can be made in the proportion of gasoline and heavier fuels (JetA, Diesel, bunker fuel for ships, etc).

Result is that demand for gasoline will keep falling faster than the overall demand for other fuels in a barrel of oil. As that continues and accelerates, the market price of gasoline will trend lower. At the extreme it can even be negative at times - i.e. refiners will have to pay people to take the excess fuel.

In the US diesel and gasoline have historical been about the same price per gallon give or take at the pump. Now there is a $1+ difference in most places already.

So, owning a high power gasoline car is looking increasingly attractive in the future.