The world's once-insatiable demand for gasoline is unlikely to recover to pre-pandemic levels, according to a report Wednesday, March 17, 2021 from the International Energy Agency.
(AP Photo/Charles Krupa, File)NEW YORK โ The world's once-insatiable demand for gasoline is unlikely to recover to pre-pandemic levels, according to a report Wednesday from the International Energy Agency.
Oil demand, meanwhile, is expected to continue rising as developing countries with growing populations use more of the fuel.
But it is not expected to return to pre-pandemic levels until 2023, according to the Paris-based intergovernmental agency.
Gasoline demand is unlikely to fully return because increased demand in the developing world will be offset by consumers shifting to electric vehicles, manufacturers improving fuel efficiency and businesses increasing telework while decreasing travel, the report said.