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Stamp costs going up Monday

Gas prices blamed for 1-cent increase

Posted: May 10, 2008 2:27 a.m.
Updated: July 11, 2008 5:03 a.m.
 
It's that time again. Postal rates are going up.

On Monday, the U.S. Postal Service is bumping up the price of a first-class by
a penny to 42 cents.
Postcard stamps are being increased to 27 cents.

As part of the Postal Accountability and Enhancement Act of 2006, prices for mailing services are adjusted each May.

With a rate increase on the way, Americans have been buying 30 million Forever stamps a day.

Forever stamps - currently selling for 41 cents - will remain valid for full postage after the increase. The stamps were introduced last year and since then more than six billion have been sold. The post office sold $267,696,023 in Forever stamps in March, up from $207,900,132 in February and $115,303,031 in January.

Unlike the Forever stamps, other 41-cent stamps will require additional postage when the new rates take effect, and postal officials said they printed an additional 1.5 billion 1-cent stamps in anticipation of the demand.

But don't wait forever, because starting May 12 the cost of Forever stamps goes up to 42 cents too.

The post office has been seeing higher gasoline prices eat away at its budget. It has been estimated that each penny increase in the price of gas costs the post office $8 million a year.

While the charge for the first ounce of a first-class letter rises to 42 cents, the price of each added ounce will remain 17 cents, so a two-ounce letter will go up a penny to 59 cents.

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