Auto Industry Trends: Electric Vehicles Sales May Boom or Crash in 2024
Gasoline Prices to Rise in Summer 2024
By Shubhendra Anand , 19 April, 2024
The oil and gas industry has witnessed various changes since the beginning of 2024. The countries worldwide are experiencing oil shortages due to geopolitical crises between major oil-producing nations. However, gasoline prices are expected to increase in the spring of 2024.
According to surveys, the oil industry experienced low gasoline prices during winter. The price of gasoline is anticipated to rise in the upcoming summer of 2024. This is because gasoline blends are expensive to carry out in the summer of 2024. The reason for the price rise is lower Reid Vapor Pressure (RVP). The increase in electric vehicle demand has cooled down conventional vehicle sales for some instant. However, it is challenging to meet the industrial market for transportation with electric vehicles. This is due to the high prices of electric cars and the lack of infrastructure. Therefore, the automotive industry shows demand for conventional vehicles to continue. Due to the market's equal demand for traditional cars, there is a surge in oil demand. Therefore, an increase in gasoline prices can be another reason. Another reason behind the rise in gasoline prices can be the inefficiency of Butane when mixed with gasoline in the summer. It is due to RVP rules that limit the Butane's ability to blend with gasoline components.
Therefore, the Environmental Protection Agency (EPA) facilitates gasoline mixing in different seasons. It helps to reduce the emissions level in the environment. However, clean energy transitions are at their peak, with countries worldwide focusing more on green energy transitions. Therefore, a rise in gasoline prices may not affect consumers as the green energy transition targets zero emissions of harmful gases.
Latest News
Auto Industry Trends: Electric Vehicles Sales May Boom or Crash in 2024
The automotive industry follows different trends since the beginning of 2024. The automotive industry has experienced many issues in the past two years due to the insufficiency of raw materials and disruptions in the supply chain. However, the sector…
China Leading Country in the World With Recycling of Lithium-Ion Batteries
Globally, the clean energy transition is taking a new shape to transform the face of countries regarding sustainability. Countries worldwide aim to achieve this goal by the end of 2050. The green energy transition demands a lot of changes in the…
Plant-Paper Based Battery New Game Changer For Clean Energy Transition
The green energy transition is achieving new heights with the interest of consumers. Clean energy transformation aims to reduce carbonization and other harmful environmental emissions by the end of 2050. Therefore, much research in this regard is…
Central Asia’s Dependency On Coal Is Growing Rapidly
The clean energy transition will gain momentum in different nations in 2024. The economies around the world are planning to transform their energy sector to adopt renewables. This is due to the goal of achieving clean energy by the end of 2050.
…
Surge In Gasoline And Diesel Prices In China
The Chinese government decides to soar in gasoline and diesel prices in between the increasing crude oil prices in 2024. Around the beginning of the first quarter of 2024, crude oil prices are experiencing a sudden price hike. Therefore, the gasoline…
