Global gasoline car sales drop below half amid fuel price surge

High fuel prices caused by the Strait of Hormuz crisis have pushed the global market share of gasoline-powered cars below 50 percent for the first time.

FTMQ Climate, written by our newsroom5 October 2026 at 01:020 views

The market share of gasoline cars in global vehicle sales fell below 50 percent for the first time ever, Oilprice, Crude Oil Prices Today, and Yahoo Finance reported. The decline was driven by record fuel prices following the Hormuz shock, which accelerated adoption of electric vehicles outside China. [1][3][4]

The fuel price surge follows the closure of the Strait of Hormuz during the war between Iran and the United States and Israel coalition. Over 20 percent of world oil trade passes through the strait, and recent energy infrastructure attacks have created severe global petroleum supply disruptions. [5]

The adoption of plug-in electric vehicles continues to be influenced by consumer demand, fuel prices, government policies, and charging infrastructure availability. Meanwhile, global leaders have warned of climate overshoot and called for a phase-out of fossil fuels, according to Talk Africa. [2][6]

Gasoline car sales fell below 50 percent of the global vehicle market for the first time.
Record-high fuel prices were triggered by energy supply disruptions in the Strait of Hormuz.
Over 20 percent of global oil trade passes through the Strait of Hormuz.

Sources

Every paragraph above points to the numbered items it rests on. Read the originals here.

[1]Fuel Price Shock Pushes Global Gas Car Sales Below 50% for First TimeOilprice, 2h ago (the report this story comes from)
[2]Global Leaders Warn of "Climate Overshoot," Call for Fossil Fuel Phase-OutTalk Africa, 19h ago
[3]Fuel Price Shock Pushes Global Gas Car Sales Below 50% for First TimeCrude Oil Prices Today | OilPrice.com, 2h ago
[4]Fuel Price Shock Pushes Global Gas Car Sales Below 50% for First TimeYahoo Finance, 2h ago

Background

[5]2026 Iran war fuel crisis on Wikipedia
[6]Electric car use by country on Wikipedia
[7]Mini's First Time on Wikipedia

Our newsroom writes these reports with the help of software, from the 7 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.

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