That's the opposite of what would happen. Competition pushes down prices. If gas is eliminated it reduces competition, pushing up demand and prices for induction.
It would increase the supply and variety of available induction models, since there would be so much new market to capture, thus driving down price of induction ranges.
During the transition period when homes need to switch over, the prices of induction stoves would go up with the increased demand. It would only be after all of the gas stoves have been replaced that induction stoves would need to reduce prices to prevent a sales volume collapse.
