Sale of Co-op’s petrol stations to Asda is investigated

The sale of the Co-op’s petrol station network to Asda is being investigated by the UK’S competition watchdog over concerns it could lead to higher prices at the pump.

The £600m deal, which handed 132 filling stations to the big-four supermarket was agreed in August.

But recent deals have caught the eye of the Competition and Markets Authority. After Mohsin and Zuber Issa and TDR Capital bought Asda they agreed to sell off 27 of the supermarket’s petrol stations.

The watchdog is amid an investigation which it started last year into petrol and diesel prices following concerns that as oil prices fall, savings are not being passed on to consumers.