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The cash-strapped US Postal Service said on Thursday it is seeking approval for an 11% price hike for domestic priority mail and package deliveries in January to deal with rising fuel costs. USPS, which needs approval from the Postal Regulatory Commission for the price increase, said it was not planning to hike the price of first class stamps in January, which rose in July from 78 to 82 cents. The surcharge is rising from a temporary 8% surcharge that was imposed in April. USPS said this week its transportation expenses in the 12 months ending Sept. 30 rose by $225 million due to higher fuel costs.
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