Only instantaneously. In the long term supply decreases to meet decreased (now niche) demand which decreases duty cycle on operations, hence increasing per unit cost.
Refined petroleum products will certainly not be niche within a decade. So much of global transportation simply can't swap out ICE with electric now, or in many cases ever. Huge swaths of the globe lack the electrical grid infrastructure to entertain even small moves in that direction. And huge numbers of drivers in countries with adequate infrastructure can't plug in at home due to living in apartment complexes, urban street parking, etc. Electric transport is a great growth area but it will not make gasoline niche any time soon.
More likely the decreasing cost of electric transportation options will have downward competitive price pressure on gasoline.
I have seen one concern expressed as potential imbalance in demand for different refined components. For example, if demand for diesel were to hold steady, but for gasoline diminish, to some degree gasoline potentially becomes a leftover pollutant.
