|Post office to increase prices|
|Written by Holyoke Enterprise|
|Wednesday, 23 January 2013 14:36|
With the U.S. Postal Service exploring every possible way to bring in new revenue to make a dent in the massive amount of debt they are facing, there will be several price hikes for the services they offer starting Sunday, Jan. 27.
Included in the increased fees will be the price to mail a letter will rise from 45 to 46 cents and a postcard will be raised by one cent to 33 cents. A new global “forever” stamp will be introduced that will allow customers to mail first-class letters anywhere in the world for one set price of $1.10 and priority mail will cost on average four percent more.
Priority mail small box will cost $5.80, a medium box will cost $12.35 and a large box will increase to $16.85. Priority mail regular envelopes will now cost $5.60, legal envelopes will be $5.75 and a padded envelope will be $5.95.
In the past seven years, the price of the stamp has been increased five times.
The rate increases may not end there. The post office has asked Congress for the authority to raise stamp prices by five cents. Other measures the post office is exploring is the possibility of delivering mail five days a week as opposed to six.
The post office lost $5.1 billion in 2011 and has lost roughly $15 billion in 2012. In October the post office defaulted on two payments to the Treasury for $11.1 billion for future retiree health benefits due to lack of funds.
Postmaster General Patrick Donahoe has stated that there is little left to do to bring in sufficient funds. With such a grim outlook, Donahoe has stated that it is up to the lawmakers in Washington to pass a postal fix.
Holyoke Enterprise January 24, 2013