Fares between Bermuda and the UK are more expensive than they should be, according to researchers.And a lack of competition on the route to London is to blame for inflated costs, according to a new report.An article in The Independent newspaper states that a formula for calculating fare costs has discovered that airlines should be charging $50 plus 11 cents for every mile on a one-way economy-class journey.That equation, devised by Australian travel planning website, Rome2rio, puts the cost of a Bermuda-London flight at $544 — much cheaper than the price normally charged by British Airways.The article states: “The effect of competition on air fares is demonstrated by comparing the benchmark return fare to two transatlantic destinations from London.“The predicted fares to Bermuda and New York are £544 and £548 respectively, since they are almost exactly the same distance. But on London-New York, which has six competing airlines, fares of £481 are easy to find next month on BA. To Bermuda, a route BA has to itself, the lowest fare is £724.”At press time The Royal Gazette was awaiting comment from British Airways and the Ministry of Tourism.