CommoditiesMedium•4 October 2026•
1 min read
Global Gasoline Car Market Share Drops Below 50% for First Time
Key Facts
1The share of gasoline cars in global vehicle sales fell below 50% for the first time ever due to record-high fuel prices.
2The Hormuz shock and the Iran war accelerated the shift toward electric vehicles outside of China.
The share of gasoline-powered cars in global vehicle sales fell below 50% for the first time ever due to record-high fuel prices. Oilprice.com reported that the Hormuz shock and the conflict involving Iran have accelerated the shift toward electric vehicles in markets outside of China.
HGAS closed at $0.0717 on October 2, 2026, amid structural shifts in the automotive and energy sectors driven by Middle East supply disruptions. The stock reached a day high of $0.07762 on October 2, 2026, before settling at its final closing price.