The cheapest petrol and diesel pumps in Coventry right nowThe latest fuel prices in Coventry have been revealed. It comes as a more detailed investigation into soaring fuel prices, now at record levels, is to be launched in the wake of a watchdog's alarming findings.
The Competition and Markets Authority’s initial review found there was a “growing gap” between the price of crude oil entering refineries and the wholesale price of petrol and diesel leaving them. It said the 5p-per-litre fuel duty cut implemented by the Treasury in March “appears to have been implemented” by retailers.
The review also found, however, that “the gap between wholesale prices and retail prices has not been a significant contributor to the overall rise in pump prices”. Yet a fuller inquiry will now take place.
Sarah Cardell, CMA general counsel, said: "While there is no escaping the global pressures pushing up fuel prices, the growing gap between the oil price and the wholesale price of petrol and diesel is a cause for concern. We now need to get to the bottom of whether there are legitimate reasons for this and, if not, what action can be taken to address it."
She said the retail market "does seem to be competitive" on the whole, but that there are some areas that "warrant further investigation". "These include finding out whether the disparities in price between urban and rural areas are justified," she said.
The CMA will use its formal legal powers to investigate in more depth and if evidence emerges of collusion or any such wrongdoing among retailers and refineries, the watchdog "won't hesitate to take action," Mrs Cardell warned. The average price of petrol and diesel is now at record levels across the country.
So, what's the situation in Coventry? According to petrolprices.com, the city's eight cheapest stations for petrol are:
1, Costco, Torrington Avenue, Canley - 175.7p(members only / correct as of July 7)
2, Texaco, Sandpits Lane, Keresley - 185.9p (July 6)
3, Asda, London Road, Abbey Park - 186.7p (July 6)
4=, Tesco, Lynchgate Road, Cannon Park - 186.9p (July 8)
4=, Tesco, Phoenix Way, Rowley Green - 186.9p (July 8)
4=, Tesco, Clifford Bridge Road, Walsgrave - 186.9p (July 8)
7, Esso, Coventry Road, Exhall - 187.9p (July 6)
8, Applegreen, Holyhead Road, Coundon - 188.8p (July 7)
And the city's eight cheapest stations for diesel are:
1,Costco, Torrington Avenue, Canley- 184.9p(members only / correct as of July 7)
2, Tesco, Lynchgate Road, Cannon Park - 190.9p (July 8)
3, Asda, London Road, Abbey Park - 195.7p (July 6)
3=, Asda, Brade Drive, Walsgrave - 195.7p(July 6)
5, Tesco, Clifford Bridge Road, Walsgrave - 196.4p (July 8)
6, Tesco, Phoenix Way, Rowley Green - 196.9p (July 8)
7, Morrisons, Holyhead Road, Spon End - 197.7p (July 6)
7=, Morrisons, Skipworth Road, Binley - 197.7p (July 6)