Postal Service bets on higher stamp prices to fix woes
WASHINGTON (AP) – Buffeted by threats from Amazon drones to deliveries by golf cart, the U.S. Postal Service is counting on a different strategy to stay competitive. It is seeking more freedom to raise prices for mailing letters.
After a 10-year review, the Postal Regulatory Commission appears likely to grant the Postal Service power to increase the cost of stamps beyond the rate of inflation. It would be the biggest change in its pricing system in nearly a half-century. A decision is expected next month.
The price of a first-class stamp, now 49 cents, could jump, though it’s not known how much.
The Postal Service is trying to stay financially afloat as it seeks to invest billions in new delivery trucks to get packages more nimbly to American homes.