The recent announcement by Saudi Arabia to raise production and offer its crude at deep discounts comes on top of the global impact from the Coronavirus. The combination has seen crude oil price fall 50% since the beginning of the year with great uncertainty for future price movements. Use supply and demand diagram to illustrate:

i.The impact of lower crude oil prices on the price of petrol.

ii.The price of petrol will affect price and quantity of used gas-guzzling cars.

iii.How does the change in petrol price affect the price and the quantity of used hybrid cars?