U.S. Postal Service seeks 8% fuel surcharge for package deliveries

US Postal Service It said Wednesday it was seeking to impose a temporary 8 percent fuel surcharge on parcel and express mail deliveries to cope with rising shipping costs, including rising oil prices as a result of the Iran war.

if approved by Postal Regulatory CommissionThe surcharge will be effective through April 26, 2027, and will remain in effect through January 17, 2027, the Postal Service said in a notice posted on its website.

An 8% surcharge will be applied to postage on Priority Mail Express, Priority Mail, USPS Ground Advantage and Parcel Select products. First class stamps and other postal services will not be affected.

Oil prices have risen more than 40% since February 28, when the United States and Israel attacked Iran.

“This temporary price adjustment will provide necessary flexibility for the Postal Service by helping to ensure that the true costs of doing business are covered as required by Congress,” the Postal Service announcement said. he said.

“Transportation costs are increasing, and our competitors have reacted with a series of surcharges,” the statement said.

“We have steadfastly avoided surcharges, and this fee is less than a third of what our competitors charge for fuel alone, so even with this change the Postal Service continues to deliver great value in shipping with some of the lowest rates in the industrialized world.”

CNBC has reached out to the Postal Regulatory Commission for comment on the Postal Service’s request.