11 Describe the elasticity of demand for petrol that each of these service stations faces. Two service stations stand on opposite sides of the road: ABC and XYZ. The owner of ABC doesn’t even have to look across the road to know when XYZ changes its petrol price. When the owner of XYZ raises the price, ABC’s pumps are busy. When XYZ lowers its prices, there’s not a car in sight. Both service stations survive, but each has no control over the price