BC Ferries has faced financial woes in recent years, blaming a rise in the cost of fuel and a decline in vehicle and passenger trips. (Chuck Stoody/Canadian Press)

BC Ferries is eliminating fuel surcharges on all its major and minor routes, the corporation announced Wednesday morning.

As of Nov. 30, no routes in the BC Ferries fleet will be subject to a fuel surcharge.

"The recent decrease in the cost of fuel allows us to eliminate the fuel surcharges, which is great news for holiday travellers," said CEO Mike Corrigan said in a release.

"We are pleased to be able to reduce the cost of ferry travel for our customers as every bit helps."

The news comes as the ferry corporation looks for ways to cut millions from its operating costs to cover a growing budget deficit.