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Originally Posted by TrevorW
Question ?? if petroleum prices are set based on supply and demand as demand for fuel for ICE vehicles declines with ever increasing EV numbers does that result in fuel prices declining to an extent where people will buy ICE vehicles as they become more economical and fuel efficient
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Great question…I do not know but like the way you think.
Supply and Demand will certainly impact, I suspect that initially it might allow prices to drift down but at some point (assuming the trend continues), it becomes difficult to support a refinery without sufficient throughput.
I do not know the make up of the costs and taxes in Australia on the cost of petrol. Which would impact how quickly (or if) price would decline.