Peak gasoline.

Bloomberg reports that Sinopec, China’s largest gasoline distributor, a few weeks ago quietly announced it thinks the market for gasoline will peak this year, two years earlier than it previously thought. EV’s are the reason.

As the article notes, it’s one thing for analysts, activists or industries to speculate about one of the world’s largest petrol markets peaking, it’s another for the largest distributor to make that call.