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Inelastic,because it non renewable sources and it hard to replace with other sources.

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Elasticity,because does not have thing to substitute with petrol now
days

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Accounting Group(Taufiq,Chua Chern Sin,Kong Shun Cheng,Gan Kok Meng,Tang Ning Xuan)

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Accounting Group(Taufiq,Chua Chern Sin,Kong Shun Cheng,Gan Kok Meng,Tang Ning Xuan)

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Inelastic because petrol is non-renewable energy and short term product. So it is difficult to find another good to replace it.

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inelastic because petrol no have any substitutes good

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Group Members: huiyee, yinshu, khaichee, ruohshian, xinni

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Group Members: huiyee, yinshu, khaichee, ruohshian, xinni

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Inelastic because the petrol does not have things to replace

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Brandon
Metta
YiSeng

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Sarah
Farah
Ejat
Viknesh

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Group:Chow Sen Siang,cheng wei jie,goh Jun yuan,jack lau

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Group:Chow Sen Siang,cheng wei jie,goh Jun yuan,jack lau

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inelastic,because petrol is a need is our life because we have to drive vehicle with the petrol, and the reason of petrol is inelastic because petrol is a cannot renewable energy, so that untill now still got nothing can be substitutes it. [expect eg:hybrid, electronic car

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Ros
Rayhan
Elza
Izzatie
Sofea
Inelastic. This is because when the price of gasoline increases, the quantity demanded doesn't decrease because there are very few good substitutes for gasoline and consumers are still willing to buy it even at relatively high prices.

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Inelastic, because difficult to find the subtitute in short term. Less responsiveness changes of price.

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Elasticity,

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Petrol station operators hit by weekly swing in fuel prices (The Star; 11 May 2017)

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Petrol station operators hit by weekly swing in fuel prices (The Star; 11 May 2017)

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PETALING JAYA: Many petrol station operators are giving up their operations as they can no longer cope with the weekly swing in retail fuel prices.

“For RON95 petrol, with a stock balance of three to five days on the midnight the weekly price change is announced, dealers will have to sell with zero margin for three to five days of the week.

“A drop of 10 sen will wipe out all margin for petrol sales for three to five days and dealers have to sacrifice all their margin for the Government’s weekly ceiling price mechanism.”