"high due to their intensive consumption of the private vehicles. Speciously the entire supply anddemandinfluences the economies of different countries not only by the expenditure&consumptions, but also it is involved with the prices and demand of the other relevantcommodity(Carollo, 2011). The main reason behind occurring the economic crisis anddifficulties are the endless wish and needs of the people. Petrol is a non-renewable and naturalresource. It will be finished in some day. The intensive use of this natural resource is hamperingthe use of future generation. The stock of petrol is limited in the sense of its physical availabilityand its use(Neumayer, 2013).The supply side of the petrol should be taken into the account to measure the effect of the declinein the price of the Oil. The most important aspect in this context is about the sustainability of thenew supply of the petrol. The international economies are not much concerned about theprofitability or benefits due to decline in the petrol price. The concern is much more significantin the perspective of the UK economy. The price fall affects the price of the vehicles of the UKeconomy, the tax structure of the country, technological changes etc. petrol price affects theother fuels as well(Euan Mearns, 2011).The rise in the price of the petrol leads to increase in the demand of the other fuels with theirrespective price. The business of the world goes faster with the rise in the price of the Oil but asthe price falls the business goes less fast as the cut in price offers discounts to theconsumer(Charles Sweeney, 2015).The fall in the oil price is an advantageous event for the consumers because now they have topay less money for the same quantity and they can consume more. Petrol is a natural resourceand the abandoned consumption of the petrol till date occurs a scarcity for this natural resourcebecause the resource is exhaustible in nature(Komalirani & Gaurav, 2013).5 Chart: 2Source: Charles Sweeney, 2015The reason behind the high value of the Petrol is its exhaustible nature which leads to thescarcity of the resource. Chart 1 shows the fluctuation of Petroleum price in UK. The price hasbeen started to decline after the year 2012. The following chart shows respective GDP status ofUK due to fluctuation of the Petrol Price.6 Chart: 3, Source: Nathan Randazzo, 2014The opportunity cost concept has a strong relationship with the exhaustible nature of the Petrol.The concept of the opportunity cost reveals that a consumer has to sacrifice the consumption ofone commodity to consume any alternative commodity. The opportunity cost relates to thechoice that has to be made between numerous mutually exclusive substitutes provided limitedresources. The opportunity cost is unrestricted in nature and not restricted to the economic costsand the monetary costs. It is the benefit for the person when he/she consider to choose oneparticular action over another.When massive deposits of crude oil are abused and oil is extractedtoday, it leads to the loss in the opportunity of extracting the oil. It is pre-expected that the stockof the non-renewable resources are going to be exhausted soon in the future. So the use of theseresources can be controlled and preserved today then the possibility of extracting and selling7 them in a higher price in future will increase. The continuous extraction of petroleum will tend todecline the sustainability of such usage. More and more resources are consumed today, lesserwill be the stock of those natural resources. According to theEndres, (2011), the petrol price ishighly related to the opportunity cost and price of the petroleum should be greater than themarginal cost.Demand side factors that influences the price fluctuation of the Petroleum:There are several demand side factors included in the economy that affects the price fluctuationof the Petroleum. In case of UK, Change in national income, inflation and recession, transportcommunication services and the amount of vehicle increased(Endres, 2011). From the traditionaltheory of demand and supply, it is easily observed that as the demand for the Petrol increases,price of the petrol is also increased and vice versa(Daly & Farley, 2004).A huge amount ofpetroleum extracted from the refineries is responsible for making UK price of petrol offshoot incurrent years. The change in the price of the petroleum in UK has been shown in the followingdiagram.8 "