The commissioner of BC Ferries has proposed fare increases capped at 1.9 per cent per year over four years, from April 2016 to March 2020.
Gord Macatee said he based his decision on lower fuel prices and reduced executive compensation, which is now in line with several Crown corporations.
He said that four years ago, BC Ferries customers were facing the possibility of fares rising by as much as 80 per cent on some routes.
Executive pay at BC Ferries has declined significantly, from $3 million in 2009 to $1.8 million last year, Macatee said in a report issued Wednesday.
Under the current system, half of that compensation is based on performance and the rest is based on achieving corporate financial targets, he said.
The public is invited to comment on the fare proposal until June 30, and a final decision will be made in September.
The independent BC Ferry Commission regulates fares charged by BC Ferries.