"The price hike is a 'time-limited adjustment' that will help cover basic costs, running from April 26 to January 17, 2027. The USPS can determine if a different long-term approach is needed."
"'Transportation costs have been increasing, and our competitors have reacted with a number of surcharges. We have steadfastly avoided surcharges and this charge is less than one-third of what our competitors charge for fuel alone.'"
"'In about a year from now, the Postal Service would be unable to deliver the mail if we continue the status quo,' said David Steiner, the postmaster general."
"Oil prices have shot up since the start of the war with Iran on February 28, affecting industries from shipping to aviation."
The US Postal Service is increasing prices by 8% for Priority Mail Express, Priority Mail, USPS Ground Advantage, and Parcel Select. This adjustment is a temporary measure to manage rising transportation costs and will be in effect from April 26 to January 17, 2027. The Postal Service emphasizes that this increase is significantly lower than competitors' surcharges. The agency is facing financial difficulties, with warnings that it may not be able to deliver mail if current trends continue. Rising oil prices due to geopolitical conflicts are impacting shipping costs.
Read at www.businessinsider.com
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