US Postal Service seeks temporary 8% price hike to address fuel costs

WASHINGTON, March 25 (Reuters) - The U.S. Postal Service said Wednesday it is seeking approval for a temporary 8% price hike for some deliveries effective April 26 to deal with rising transportation fuel costs.

The USPS, which needs approval from the Postal Regulatory Commission for the temporary price increase, said the surcharge will provide a "bridge to a permanent mechanism to reflect market conditions in prices for competitive products" and comes as USPS has warned it could it run out of money as soon as October.