CHARLESTON, W.Va. – Next time you head to the post office, you’ll be paying more for that sheet of stamps. Starting Sunday, the price of a first class stamp went up three cents. They are now 49-cents each.
That’s a 10-cent increase in the past decade. The U.S. Postal Service said it’s necessary in order to keep up with its rising costs and dwindling business.
“We’re looking for these increases to probably generate about two billion dollars in annual revenue for the Postal Service. Something we that we really need, because our financial situation has been very challenging these last few years,” according to Sean Hargadon, a spokesperson for the U.S. Postal Service.
Some people were prepared for the price hike, but others like Ray Dodson of Charleston didn’t realize it was happening until Sunday when it was too late to purchase stamps at the old price, of 46-cents. He said that’s not going to deter him from posting his mail.
“The post office is a pretty good service. It doesn’t matter. I’m happy to make them more solvent,” said Dodson.
The Postal Service reported a net loss of $5 billion in 2013. In 2012, the agency reported nearly $16 billion in lost revenue.
A Charleston woman who was at the Charleston Post Office Monday told MetroNews she understands why the postal service is upping their stamp prices but that doesn’t mean she has to like it.
“Three cents doesn’t seem like a lot but when you’re selling 100 of them, you get a little bit here, you get a little bit there.”
Another Charleston resident said the price increase wouldn’t be a big impact.
“Most people need stamps, although our need is going down cause we’re doing more [business] on the Internet,” she said.
It’s not just first class stamps that are going up. These are across the board hikes.
“Letters to all international destinations are going up to $1.15, that’s for one ounce,” explained Katina Fields with the Postal Service. “Postcards are going up one cent to 34-cents.”