September 10, 2026
Commissioner approves transfer to fuel deferral account
Summary
- The BC Ferries Commissioner has approved the transfer of BC Ferries’ price cap balance to the fuel deferral account.
- The transfer will reduce the fuel deferral account deficit and the amount that would otherwise need to be recovered from customers through fuel surcharges.
VICTORIA, BC – The BC Ferries Commissioner has approved BC Ferries’ request to apply its price cap balance as of September 30, 2026, to offset higher fuel costs incurred.
The price cap limits the average amount BC Ferries can collect from fares over a rolling four-quarter period; it does not set the price of individual tickets. Because travel patterns change throughout the year, the rolling average can move temporarily above or below the price cap. During the busy spring and summer seasons, more customers travel at regular fares, which generally causes the average to rise.
The Commissioner has approved applying the amount above the price cap to the fuel deferral account. Fuel prices rose sharply in 2026 and remain elevated, and the temporary five per cent fuel surcharge introduced in June is not forecast to fully recover the resulting fuel deferral account deficit.
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. BC Ferries will continue to evaluate future surcharge requirements based on fuel market conditions and forecast costs, with the fuel deferral account required to return to a zero balance during the current performance term.
Saver fares will continue to be offered and are forecast to account for more than 20 per cent of fares offered to customers during the second half of the fiscal year.
Similar transfers were approved by the BC Ferries Commissioner in 2022 and 2014.
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