On Friday, just in time for the holiday season, UPS (NYS: UPS) announced a Christmas gift for next year's shoppers: higher shipping rates.
Effective December 31, 2012, UPS plans to institute an average net increase of 4.5% on the rates charged for UPS Air and U.S.-originating International Services shipments. UPS breaks the rate increases down into two parts: a 6.5% base rate on UPS Air and International Services, minus a two percentage point reduction in fuel surcharges on such shipments.
UPS Ground is also raising rates. The base rate there will rise 5.9%, mitigated by a single percentage point reduction in the fuel surcharge, resulting in an average 4.9% price hike. UPS Next Day Air Freight, Second Day Air Freight, and Three-Day Freight rates for shipments among U.S., Canadian, and Puerto Rican locations will also rise 4.9%.
UPS advises that precise rate and service information will be posted on www.ups.com/rates beginning Friday. The new 2013 Rate and Service Guide will be available for download on UPS's site on December 31, 2012.
The article UPS Announces Broad Rate Hikes for 2013 originally appeared on Fool.com.
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