Tarifa vs. precio
The Spanish language has several words to denote the cost of goods or services such as tarifa and precio. While these words seem interchangeable, they are used in different contexts.
Tarifa
A2A tarifa refers to an official or fixed charge that is set for a particular service, often part of a systematic plan or scale. It is used to express the idea of a standard amount that must be paid for a particular service or advantage.
La tarifa de taxi desde el aeropuerto hasta el hotel es de 30 euros.
(The taxi fare from the airport to the hotel is 30 euros.)
Las compañías telefónicas tienen diferentes tarifas de datos.
(Telephone companies have different data rates.)
El hotel cobra una tarifa especial para los huespedes que se alojen durante todo el fin de semana.
(The hotel charges a special rate for guests staying for the entire weekend.)
Precio
A1Precio usually designates a monetary value assigned to a product or service. In general, it refers to the cost of buying an item or acquiring a service.
El precio del billete de tren es más barato si lo compras con anticipación.
(The price of the train ticket is cheaper if you buy it in advance.)
Este restaurante tiene precios muy altos.
(This restaurant has very high prices.)
El precio del pan ha subido este mes.
(The price of bread has gone up this month.)
Summary
While precio generally denotes the cost assigned to a product or a service, tarifa usually indicates an official or fixed rate for provided services. When translating to English, tarifa can commonly mean fare or rate, while precio is more closely aligned with price.