BC Ferries will raise fares by one per cent starting March 1 due to fuel market conditions, according to a media release by the company.
The increase works out to 15 cents for an adult and 55 cents for a vehicle on the Metro Vancouver – Vancouver Island routes and five cents for an adult and 20 cents for a vehicle on a number of inter-island routes.
BC Ferries said it monitors the cost of fuel and applies a rebate, surcharge, or neither, under a regulatory process that is set by the BC Ferries commissioner.
Over the past 18 years, BC Ferries has been using a fuel rebate/surcharge mechanism to manage the volatility in the price of fuel, according to the release. When fuel prices are lower, BC Ferries passes lower fuel prices on to customers through a fuel rebate. When fuel prices are higher, BC Ferries charges a fuel surcharge specifically designed to cover the additional cost of fuel. The company said it does not benefit financially from surcharges or rebates.
The new surcharge will apply to all routes except the Port Hardy – Prince Rupert, Prince Rupert – Haida Gwaii and Port Hardy – Central Coast routes. On those routes, rather than a fuel surcharge, the current 1.5 per cent fuel rebate will be removed effective March 1.
