I'm pretty sure it doesn't. It only shows the base rate as taxes and fees are not covered by the price protection. We got a few bucks back recently on a cruise we are currently booked on. The price per room went down $40, but the taxes and fees went up a buck or two IIRC.
By law, the price you see advertised includes the cruise fare and port fees (also referred to as non-commissionable fare or NCF), but does not include the taxes.
The trick is to make sure you understand all the various restrictions with each fare. Best to book with an agent and let them explain all the rates and help you find the right one for you, since some have non-refundable deposits, while others do not. Plus, some rates shown are for 'guarantee' cabins while others are for cabin assignment.
__________________ 47 Cruises & Counting! Favorites: Paul Gauguin to Tahiti: Uniworld River Cruises in Europe; any of the Celebrity Solstice-class ships; Holland America for 12-nights in the Baltics & Russia; RCCL for 14-night Greek Isles, Turkey, & Croatia; Holland America for 14-day Alaska cruisetour; 10-night Canada/New England cruise; 21 days in Hawaii including a 7-night NCL cruise; Oceania for 25 days in Asia; & 3 months touring Europe by train. And many days spent in all-inclusive resorts!