The rapid rate of growth expected in the electric car market is set to have a significant impact on the gasoline market, according to one industry commentator.

Electric vehicles now account for just 1 per cent of all car sales, but by 2030 they are tipped to make up a quarter of all sales.

“Certainly for oil it could see quite a sizeable disruption to gasoline demand,” ANZ Bank senior commodity strategist Daniel Hynes told investors at the Association of Mining and Exploration Companies (AMEC) Convention in Perth.

“Those numbers do represent at risk — I suppose only 2 per cent of oil demand, but it would make up nearly 7 per cent of gasoline demand.

“Certainly countries like the US, which are heavily tilted towards the gasoline market would be much more impacted by that.”

>> Scroll down for a list of ASX-listed oil juniors

Internal combustion engine cars currently account for about 26 per cent of global oil consumption, according to Morgan Stanley.

Meanwhile, electric and hybrid vehicles displaced only about 50,000 barrels a day of oil in a world that is using 100 million barrels a day, according to IHS Markit.

Oil demand shouldn’t be affected too much by the electric car market in the next ten years — but that will change in the following decade says Morgan Stanley.

Morgan Stanley predicts electric cars will account for 9 per cent of all sales in 2025, 16 per cent in 2030 and 64 per cent in 2040.

“Electric cars have the potential to reduce oil demand considerably in the long term,” the firm said in its “On the Charge” report released earlier this year.

“However, this is unlikely to be the case over the next 10 years, and possibly longer. Even assuming rapid adoption, EVs will likely displace less than 1 per cent of current oil demand by 2025.”

>> Here’s a recent list of ASX-listed oil juniors:

ASX code Oil junior One-year price change Price May 23 (intraday) Market Cap
EEG EMPIRE ENERGY 3.5 0.036 45.5M
BYE BYRON ENERGY 2.45 0.345 232.9M
LKO LAKES OIL 2 0.003 82.9M
REY REY RESOURCES 1.68292682927 0.22 46.7M
HZN HORIZON 1.54545454545 0.14 169.3M
SEH SINO GAS 1.52873563218 0.22 466.1M
HE8 HELIOS ENERGY 1.45833333333 0.059 87.7M
FDM FREEDOM 1.4347826087 0.28 254.9M
OEL OTTO ENERGY 1.36666666667 0.071 107.2M
BRU BURU ENERGY 1.3602484472 0.38 166.3M
BUL BLUE ENERGY 1.32142857143 0.13 150.1M
COI COMET RIDGE 1.29032258065 0.355 240.2M
TEG TRIANGLE ENERGY 1.11111111111 0.095 20.7M
BAS BASS OIL 1 0.004 10.4M
PCL PANCONTINENTAL 1 0.004 21.0M
EXR ELIXIR PETROLEUM 0.972972972973 0.073 16.2M
ATS AUSTRALIS 0.760869565217 0.405 362.0M
CVN CARNARVON PETROL 0.707317073171 0.14 161.4M
PVE PO VALLEY ENERGY 0.7 0.034 20.2M
TOU TLOU ENERGY 0.52380952381 0.16 54.4M
BRK BROOKSIDE ENERGY 0.444444444444 0.013 12.8M
MEL METGASCO 0.428571428571 0.06 23.9M
TDO 3D OIL 0.355555555556 0.061 15.4M
EOR ENHANCED 0.333333333333 0.008 7.9M
PVD PURA VIDA ENERGY (suspended) 0.307692307692 0.051 --
NGY NUENERGY GAS 0.294117647059 0.044 65.2M
AVD ANTILLES 0.235294117647 0.021 3.4M
GBP GLOBAL PETROLEUM 0.2 0.03 6.7M
IPB IPB PETROLEUM 0.157894736842 0.022 3.4M
KEY KEY PETROLEUM 0.142857142857 0.008 10.8M
ELK ELK PETROLEUM 0.119402985075 0.075 111.6M
TAP TAP OIL 0.117647058824 0.076 31.9M
CUE CUE ENERGY 0.105263157895 0.063 43.3M
RLE REAL ENERGY 0.1 0.099 26.8M
AJQ ARMOUR ENERGY 0.0975609756098 0.09 36.5M
GGX GAS2GRID 0 0.003 3.4M
EMP EMPEROR ENERGY 0 0.003 2.7M
JKA JACKA RESOURCES 0 0.002 921.7k
RAW RAWSON OIL 0 0.044 4.6M
SEA SUNDANCE ENERGY 0 0.072 501.3M
WBE WHITEBARK ENERGY 0 0.007 6.9M
COE COOPER ENERGY -0.0053050397878 0.375 592.4M
CTP CENTRAL PETROL -0.00584795321637 0.17 120.2M
AOW AMERICAN PATRIOT -0.037037037037 0.026 6.9M
GAS STATE GAS (*listed Oct 2017) -0.05 0.19 25.6M
MPO MOLOPO ENERGY (suspended) -0.0666666666667 0.14 --
ICN ICON ENERGY -0.0769230769231 0.024 14.3M
STX STRIKE ENERGY -0.0875 0.073 81.0M
ENB ENEABBA GAS -0.125 0.007 5.2M
88E 88 ENERGY -0.145833333333 0.041 233.4M
AOK AUSTEX OIL (suspended) -0.190476190476 0.017 --
EGO EMPIRE OIL & GAS (suspended) -0.25 0.12 --
PSA PETSEC ENERGY -0.266666666667 0.11 36.1M
BUY BOUNTY OIL & GAS -0.285714285714 0.005 5.7M
KPL KINA PETROLEUM -0.29 0.071 27.2M
MAY MELBANA ENERGY -0.315789473684 0.013 16.7M
TMK TAMASKA OIL & GAS -0.333333333333 0.002 5.9M
ABL ABILENE -0.333333333333 0.006 2.4M
SGC SACGASCO -0.338461538462 0.043 12.8M
OEX OILEX -0.4 0.003 6.0M
RRS RANGE RESOURCES -0.428571428571 0.004 30.4M
TPD TALON PETROLEUM -0.428571428571 0.004 4.1M
WEL WINCHESTER -0.4375 0.045 12.8M
SSN SAMSON -0.5 0.002 4.9M
FPL FREMONT -0.7 0.009 6.1M
WOF WOLF PETROLEUM -0.71875 0.009 6.2M
TNP TRIPLE ENERGY -0.75 0.06 2.6M
JPR JUPITER ENERGY -0.784 0.054 8.3M