United States Postal Service files notice of a temporary price change
United States Postal Service files notice of a temporary price change
The United States Postal Service has filed notice with the Postal Regulatory Commission (PRC) of a temporary price change to take effect on Oct. 18, 2020.
The planned temporary price adjustments are in response to increased expenses and heightened demand for online shopping package volume due to the coronavirus pandemic and expected holiday ecommerce, according to a news release.
As a result of these changing market conditions, the Postal Service is planning a time-limited price increase on all commercial domestic competitive package volume from Oct. 18 until Dec. 27, 2020.
Retail prices and international products will be unaffected. The planned price increase would go into effect at 12:00AM Central on Oct.18, 2020 and remain in place until 12:00AM Central Dec. 27, 2020.
The planned prices, approved by the Governors of the Postal Service on August 6, would raise prices on its commercial domestic competitive parcels – Priority Mail Express, Priority Mail, First-Class Package Service, Parcel Select, and Parcel Return Service.
This time-limited adjustment will increase prices for commercial customers in line with competitive practices without impacting customers at the retail level. In doing this, the Postal Service said, in a news release, that it’s protecting the retail consumer during a vulnerable economic period while increasing prices on commercial volume during heightened volume levels.
According to a news release, no structural changes are planned as part of this limited time pricing initiative and the Governors believe these temporary rates will keep the Postal Service competitive while providing the agency with much needed revenue.
The forecasted additional revenue from the time-limited increase will depend on the volume of packages shipped between Oct. 18 and Dec. 27 at commercial rates.
If favorably reviewed by the PRC, the planned price changes will include increases on various products. The PRC will review the prices before they are scheduled to take effect on Oct.18, 2020. The complete Postal Service price filings with prices for all products can be found on the PRC website under the Daily Listings section at prc.gov/dockets/daily. The price change tables are also available on the Postal Service’s Postal Explorer website at pe.usps.com/PriceChange/Index.
The Postal Service receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations.
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