US Postal Service seeks letter price raise to 78 cents
The U.S. Postal Service said it notified the commission of plans to raise letter and postcard rates an average of 7.4%. A domestic postcard will cost 62 cents, up from the current 56 cents, while the price for sending an international postcard will increase by a nickel to $1.70. Rate changes apply to single-piece and metered mail.
Single-piece letters weighing more than an ounce will increase a penny to 29 cents for each additional ounce.
The Postal Service is also seeking price adjustments for its Special Services products. Notably, the Postal Service will apply a price reduction of 12% for postal insurance when mailing an item.
The quasicommercial agency said the price changes are needed to help achieve financial stability as it implements operational changes in a changing market to save money. Postal Service prices remain among the most affordable in the world, it said.
Following a directive from the commission, the Postal Service also filed two sets of prices for marketing mail and package services products. While only one set of rates will go into effect on July 13, these prices address the pending proposal to eliminate bound printed matter and expand marketing mail, pending the commission's approval. The agency said it will provide more details on those changes in the future.
During the first quarter of fiscal year 2025, the organization narrowed its net loss to $140 million. It generated about $150 million in operating profit versus a $2 billion loss for the same period in the prior year.
Under a restructuring plan called Delivering for America, the Postal Service has reduced billions of dollars in costs by adjusting the logistics network to integrate delivery of mail and package categories and shift more air transportation to ground, and it has created new products, adjusted rates and persuaded Congress to repeal a requirement that the Postal Service prepay health plans for retirees.
The architect of the plan, Postmaster General Louis DeJoy, abruptly left office last month.
Click here for more FreightWaves/American Shipper stories by Eric Kulisch.
Postmaster General Louis DeJoy announces sudden departure
The post US Postal Service seeks letter price raise to 78 cents appeared first on FreightWaves.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
First Look: J.B. Hunt Q2 earnings
J.B. Hunt Transport Services' second-quarter result was largely in line with analysts' expectations. The Lowell, Arkansas-based multimodal transportation provider reported earnings per share of $1.31 for the period after the market closed on Tuesday, which was 1 cent below the year-ago result. Consolidated revenue of $2.93 billion was in line with consensus and flat year over year. Operating income dipped 4% y/y to $197 million. The company's flagship intermodal unit reported a 2% y/y increase in revenue to $1.44 billion as a 6% increase in loads was partially offset by a 3% decline in revenue per load. A mix shift to the Eastern network weighed on the yield metric given the shorter length of haul. The unit's operating ratio (inverse of operating margin) deteriorated 40 basis points y/y to 93.3%. Dedicated revenue dipped less than 1% y/y to $847 million as a 3% decline in average trucks in service was largely offset by a 3% increase in revenue per truck per week (up 5% excluding fuel surcharges). The unit's OR was 30 bps worse y/y at 88.9%. A $3.6 million operating loss in the company's brokerage segment widened slightly from the first quarter, but was nearly $10 million lower y/y. Brokered loads declined 9% y/y but revenue per load was up 6%. J.B. Hunt (NASDAQ: JBHT) will host a call at 5 p.m. EDT on Tuesday to discuss second-quarter results. More FreightWaves articles by Todd Maiden: LTL pricing index to hit record high in Q3 June produces mixed freight trends, recovery remains 'elusive' Carrier Logistics automates LTL shipment data entry The post First Look: J.B. Hunt Q2 earnings appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Yellow Corp. to sell 4 terminals for $6.9M
Defunct Yellow Corp. has entered a request with a federal bankruptcy court in Delaware to sell four terminals for $6.85 million, according to a Monday filing. The purchase agreements for the owned properties include a 38-door terminal near Long Island, New York valued at $4 million, a 39-door service center near Omaha, Nebraska ($2 million), a 20-door facility near Atlantic City, New Jersey ($600,000), and a 15-door location in Alexandria, Louisiana ($250,000). The buyers appear to include various real estate and other investor groups. Proceeds from the sales will settle claims against the estate, including employee claims for PTO, sick time and amounts sought under the Worker Adjustment and Retraining Notification Act. The bankrupt less-than-truckload carrier has liquidated more than 210 terminals for nearly $2.4 billion since filing for bankruptcy in 2023. More FreightWaves articles by Todd Maiden: LTL pricing index to hit record high in Q3 June produces mixed freight trends, recovery remains 'elusive' Carrier Logistics automates LTL shipment data entry The post Yellow Corp. to sell 4 terminals for $6.9M appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Forever stamp prices and other USPS shipping services just went up again: See the new list of postal rates
If you need a fresh pack of stamps, be prepared to pay a little bit more. As of yesterday, the price of a Forever stamp is now 78 cents, an increase of roughly 7%. Managers think employees should take a break from work—but they don't promote the ones who do 5 work-from-home purchases worth splurging for This 'Iron Dome' for mosquitoes shoots down bugs with lasers And it's not just stamps. The United States Postal Service (USPS) is hiking rates for various domestic shipping services. Here's everything you need to know: According to a notice from the USPS, rates for the following services are going up: Priority Mail service: 6.3% increase USPS Ground Advantage: 7.1% increase Parcel Select: 7.6% increase The post office says the following services will not increase: Priority Mail Express service Domestic Extra Services International Ancillary Services International Products The increases are going toward technological upgrades, the modernization of services, new staffing, and customer service improvements, according to the USPS notice. Probably because there is a lot going on in the world, and it's easy for this kind of news to get lost in our current flood-the-zone environment. The USPS did publish a notice about the proposed rate increases on May 9. Those increases have been approved and are now reflected on Rate hikes at the post office have become more frequent in recent years. The price of a stamp was last raised about a year ago, when the rate jumped from 68 cents to 73 cents, and that was already the second rate increase of 2024. The USPS has been working on a 10-year plan to achieve sustainability in the modern era, but it's still losing money. The agency saw a net loss of $9.5 billion in 2024, compared to $6.5 billion the year before. Last year, the USPS attributed $1.4 billion of its $79.5 billion operating revenue to rate increases. This post originally appeared at to get the Fast Company newsletter: Sign in to access your portfolio
