12/15/2014 01:48 EST | Updated 12/15/2014 01:59 EST

BC Ferries Kills Fuel Surcharge

(2009/02/09 West Vancouver, British Columbia, CANADA)

BC Ferries announced it's eliminating a 3.4 per cent fuel surcharge because of falling oil prices.

“With the current favourable market conditions, we have been hedging our diesel fuel costs and are now in a position to eliminate the fuel surcharge, which is great news for holiday travellers,” said Mike Corrigan, BC Ferries’ president and CEO, in a news release on Monday.

The surcharge was added in January. A family of four travelling by car between Vancouver and Victoria, for example, were charged an extra $3.25 each way.

"We know that fare affordability is an issue for our customers," said Corrigan.

BC Ferries expects to clear the outstanding balance in its fuel deferral account by early next year, he added.

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