Share Price Quote - A Quick Question

[im]

When I look at my Shares on-line on the London Stock Exchange's web-site I see 3 quotes for my particular shares in company X.

I'll give a demo below...

Bid 719

Offer 724

Price 722


As I understand it:

Bid = The price per share that I can sell the shares at

Offer = The price per share should I wish to purchase more of company X's share

Price = Some kinda mid-point price between the other two???


However it seems that Price is given undue weight as its shown in the at the top of that list on the LSE's site and is also the figure that my Yahoo widget on my phone shows as the current value for my shares.

What is this Price exactly and why is it given prominence over the other 2 figures?

Cheers