The BC Ferry Commission is allowing fares to increase by a maximum of 3.2% annually from April 1 of 2024 through to 2028.

The final price cap is significantly lower than the preliminary 9.2% proposed by the Commission in March, due to additional one-time funding of $500 million from the provincial government.

The cash is intended to alleviate a significant amount of the pressure facing the ferry system, allowing them to cap fares at a much lower level than anticipated.

In her report, however, Commissioner Eva Hage warns of the many demands facing the ferry system in the years ahead, citing ongoing labour supply issues, rising fuel prices and the escalating expenses associated with maintaining an aging fleet.

BC Ferries is predicting a steep increase in operating costs – forecast to be 40% higher in 2025 than in 2022.