International Bridge customers paying with Canadian currency at toll booths will see some savings as Canadian currency rates decrease due to the relative strength of the Canadian dollar. The changes are the result of the currency equity review conducted by bridge officials twice each year.
Starting Saturday, Oct. 1, the passenger vehicle rate for customers paying with Canadian currency will be reduced from $4.70 to $4.50. Commercial vehicles rates will decrease from $6.10 per axle to $5.85 per axle.
“All our Canadian currency toll rates will be adjusted,” said Peter Petainen, International Bridge Administration (IBA) general manager. “This is part of our required, semi-annual currency review. The April and October toll equity adjustments are contractually required revaluations due to changes in the exchange rate between the U.S. and the Canadian dollar.”
The three-tier commuter Canadian rates will decrease to $4.05, $3.60, and $3.15. Discounts are based on the number of one-way crossings a customer completes on their account in the previous 30 days. All customers with commuter accounts receive a 10 percent discount, while customers with three to eight crossings earn a 20 percent discount, and nine or more crossings earn a 30 percent savings off the regular cash rate.
The U.S. rates remain unchanged at $3.50 for autos, and discount rates of $2.45, $2.80, and $3.15 respectively. Commercial vehicles are assessed at $4.50 per axle.
The intergovernmental agreement, under which the bridge operates, mandates that Canadian currency toll rates be adjusted every April and October if the change in the average currency exchange rate during the first six months of the preceding seven months is large enough. Using U.S. currency as the benchmark, the IBA is required to keep toll equity to within 5 cents in relation to currency exchange rates.
The operation and maintenance of the International Bridge is totally self-funded, primarily through bridge tolls. It is not subsidized by any state, provincial or federal government entity.