A new study has named Leeds Bradford Airpot as the most at risk of closing due to rising fuel prices, alongside Glasgow.
The predictions, published by the team at OLBG, have taken into account rising geopolitical tensions and fears over global fuel supply to devise odds into the likelihood of several major airports being forced to close down.
They’ve also analysed the chances of 2022’s petrol price record being smashed this year.
With British refineries reportedly being asked to maximise jet fuel output, attention has turned to the possibility of airport closures and surging petrol prices.
The government has confirmed it is closely monitoring the situation, working alongside airlines, airports and fuel suppliers as costs continue to climb.
| Airport | Odds* | Implied Probability |
|---|---|---|
| Glasgow | 5/1 | 16.67% |
| Leeds-Bradford | 5/1 | 16.67% |
| London Heathrow | 6/1 | 14.29% |
| London Gatwick | 6/1 | 14.29% |
| Manchester | 7/1 | 12.50% |
| Liverpool | 8/1 | 11.11% |
| East Midlands | 9/1 | 10.00% |
| Belfast | 9/1 | 10.00% |
*As betting sites currently aren't taking bets on this event, odds have been compiled as theoretical probability from an entertainment perspective only and come from an industry expert
Glasgow and Leeds-Bradford head the market at 5/1, suggesting the experts see regional airports as potentially more vulnerable if supply pressures intensify.
Jake Ashton, Current Affairs Expert at OLBG added:
“These markets are driven by uncertainty.
"While closures remain a long shot, the fact that they're being spoken about shows how seriously the situation is being taken.”
There is also a slim chance that petrol price records could be broken.
Alongside aviation concerns, there is growing attention on whether petrol prices could surpass their previous UK record of 191.5p per litre, set in July 2022.
The odds currently favour the record not being broken, but a 4/1 price (20% probability) on it happening highlights genuine concern that continued instability could push prices toward historic highs once again.
You can view the full predictions here: https://www.olbg.com/news/fuel-price-fears-spark-betting-markets-airport-closures-and-record-petrol-costs
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