GULF Energy has denied any role in a recent sharp increase in the price of petroleum products that was announced by the Energy Regulatory Commission mid this month.
The oil marketer, through a press statement, said it has not supplied any crude oil cargo for the industry in the last two months.
Neither has the company supplied a single petrol cargo in the last three months nor a single diesel or kerosine cargo in the last five months.
The marketer was reacting to a report published in the Daily Nation early this week alleging that a flawed tendering process involving it may have led to higher pump prices announced by the Energy Regulatory Commission mid this month.
According to the statement, the crude oil cargos which informed the October pump pricing was cargo no 10/2012 which was supplied by KenolKobil.
"This data is public information begging the question why this media house would intentionally draw Gulf Energy's name into the issue of October pump price reviews," the statement said in part.
The price of a litre of super petrol in Nairobi shot up by Sh6.31 in the latest price review by the ERC. Diesel and kerosene prices have also been increased by Sh5.04 and Sh6.31 respectively.
ERC attributed the increase to rise in international market price of murban crude oil by 3.48 per cent to 115.54 in September. In Mombasa, super petrol, diesel and kerosene will retail at maximum price of Sh112, Sh 102.87 and Sh83.22.
In Nakuru Super will be sold at Sh115.83, Kerosene at Sh106.92 and kerosene at Sh86.77. Fuel will be most expensive in Mandera where the maximum price for super petrol has been set at Sh127.78, diesel Sh118.63 and kerosene at Sh98.53.
Gulf Energy said it has won the November crude oil cargo which will load early next month and arrive between the 19th and 21st of the same month for processing by the Kenya Petroleum Refineries Ltd.
"Therefore this particular cargo can only impact pump price for the period !5th December to 14th January 2013," the statement added.