BC Ferries passengers spared fare hikes for now, despite rising fuel costs
By transferring the money to pay for the fuel, BC Ferries resets its books and doesn’t have to increase the fuel charge to cover that debt.
BC Ferries passengers spared fare hikes for now, despite rising fuel costs
Coastal travelers shouldn’t see any emergency fare hikes or increased fuel surcharges in the immediate future after the BC Ferries commissioner approved using surplus summer revenue to pay off its fuel bill.
Comm. Eva Hage approved the ferry company’s request to apply its price cap balance as of Sept. 30 to its fuel deferral account to offset the increased amount the company had to pay for fuel.
“Volatility in global fuel markets has increased fuel costs by 20% to 40%,” Hage said in a statement. As a result, BC Ferries’ fuel deferral account is projected to reach a deficit of approximately $30.2 million by March 31, 2027, Hage said.
By applying the 5% surcharge through March 31, 2028, the deficit is expected to be $17.1 million,” Hage said.
“Fuel prices rose sharply in 2026 and remain elevated, and the temporary 5% fuel surcharge introduced in June is not forecast to fully recover the resulting fuel deferral account deficit,” BC Ferries said in a statement.
What that means is even though passengers paid an additional 5% on fares this summer, it wasn’t enough to cover the debt.
“Because travel patterns change throughout the year, the rolling average can move temporarily above or below the price cap,” BC Ferries said.
“During the busy spring and summer seasons, more customers travel at regular fares, which generally causes the average to rise.”
BC Ferries collected more money than it was allowed during a busy summer as more passengers paid full fare. By transferring some of that revenue to pay for the fuel, BC Ferries resets its books and doesn’t have to increase the fuel charge to cover that debt.
Nor does it need to increase the price of tickets.
“The transfer will bring BC Ferries’ rolling average fares back within the price cap and address a portion of fuel costs that would otherwise need to be recovered from customers through future fuel surcharges,” it said.
Hage also requested that Saver fares account for at least 20% of all BC Ferries major route fares offered in 2027.
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