That's actually more complicated than that.
If you're using a web mail, your connection to the mail provider most likely uses HTTPS. That is, HTTP over TLS. When the mail is sent, it depends whether the recipient uses the same provider or not. If it's the same provider, well, protocols are irrelevant. If not, it will usually be SMTP over TLS (minus any potential problems with STARTTLS).
The main problem with that is that the mail is not encrypted on the various servers it goes through. Only the server-to-server connections are encrypted. So your provider can access your email, and so can the recipient's. When that provider's business model is reading your emails so it can send you targeted adds, this is less than great. (Yes, Google reads your emails. They try to reassure you by telling you their employees don't read it, but the fact the process is automated actually makes it worse.)
