World’s Top Oil Trader Sees China’s Gasoline Demand Peaking by 2025

China’s gradual shift toward electric vehicles will bring about domestic gasoline demand peaking either this year or next, according to the top executive of the world’s largest independent oil trader, Vitol Group. “Gasoline is likely to peak this year or next year in China — not because nobody’s moving, but simply because the fleet is slowly changing towards electric vehicles,” Vitol Group’s CEO Russell Hardy told Bloomberg in an interview published on Monday. Earlier this year, Vitol pushed back its expected…