THE government will allow oil companies to play a bigger role in determining the import price for jet fuel from March, the country’s top planning body said Saturday, domestic media reported.

    The government is set to push forward market reforms of aviation fuel pricing, a National Development and Reform Commission (NDRC) official said, according to the Xinhua news agency.

    Major State-owned oil companies including Sinopec, PetroChina, CNOOC and China Aviation Oil will determine one part of the producer price of jet fuel, Xinhua said. That part is known as the Cost, Insurance and Freightage (CIF) import price, and was previously decided by the NDRC itself and published on a monthly basis.

    The NDRC began implementing a more market-driven pricing plan for the producer price of jet fuel in 2011, Xinhua said.

    (SD-Agencies)