For the first time in 13 years, BC Ferries won’t be raising fares as part of its annual increase in price caps.
Price caps on passenger and vehicle fares will still rise by 1.9 per cent when the fiscal year begins April 1, but are effectively offset by a fuel rebate increase of 1.9 per cent.
“Given the current price of fuel on world markets, we expect to maintain a fuel rebate for the foreseeable future,” said BC Ferries Chief Financial Officer Dennis Dodo. "We're pretty confident that we can keep those on for quite some time."
Dodo said the fares should stay the same heading into the 2017 fiscal year, pending any major fluctuations in the price of oil.
It also means the cost of reservations, assured loading tickets and the buy-in level for Experience Cards will not increase in April.
The B.C. government lauded BC Ferries for setting price caps of 1.9 per cent for the next four years – the lowest increases in a decade.
The province said BC Ferries saw a boost in traffic last year that is expected to continue into 2016 thanks to low fuel prices and the low dollar.
Vehicle and passenger traffic since April 2015 was up by four per cent compared to the same period in 2014.
As of Nov. 1, 2015, the standard fare for a vehicle under 20 feet long travelling one way between Tsawassen and Swartz Bay was $55.40, with passengers fares set at $16.90 for age 12 and up.
