Correct.
However, there are consequences to switching, aside from the now higher baseline price difference (eg, 1.10$ vs 1.00$).
In the case of ethanol, you have the reduction in land utility for food in the face of still growing (just at slower speeds) populations, and continued encroachment from land development, along with the environmental impacts of the new toolchain for production and refinement.
Similar stories for pure electric (such as from solar or wind, or from nuclear power). (then you have scalability issues with lithium remanufacture, issues with reprocessing of rare earth metals besides lithium (like osmium, neodymium, et al), and things of that nature.)
Gasoline is currently king for several outstanding reasons that wont go away with a switch to an "in the wings" solution, such as
1) Highest energy density in the lightest, easiest and safest medium to transport
2) Utilization tech is very simple, made of abundant, and easy to remanufacture materials
3) Has incumbent economies of scale working for it already.
Many areas of society are tied to the costs of transport of goods, and without a substitute that is competitive in those areas, many transport schemes will not be workable any longer, which will start throwing monkey wrenches in lots of other industries downstream that depend on that transport.
Simply running out of gasoline, and switching to another medium when that does, has more consequences than just "It costs marginally more".