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Australians will have to pay more to deliver packages nationally and abroad with Australia Post announcing new price increases for customers in the coming weeks.
The mail delivery service announced on Thursday that it would increase the price of domestic parcel and Express Post packages by an average of 4.95 per cent as part of a new pricing scheme that will take place next month.
For a medium prepaid package or satchel, prices will increase from $15.65 to $16.40, while for an Express Post item of the same size, prices increase from $19.65 to $20.40.
Some changes will begin to be implemented on July 1 and impact international parcels and letters as well.
A spokeswoman from Australia Post said the prices were reviewed carefully and that the company had “absorbed costs where possible”.
“We recognise the cost pressures facing households and businesses, and review our pricing carefully,” the spokeswoman said.
“We have absorbed costs where possible, including keeping core parcel price increases, on average, below inflation for contract customers over the past two years and for retail customers last year.”
Passport and ID photos were also impacted by the changes, with prices rising from $22.99 to $23.50 as of July 1.
The new price changes were accompanied by an opening statement from CEO and Managing Director of Australia Post Paul Graham who highlighted some of the pressures that have impacted their services in recent months.
“I join you today as Australia Post continues to face challenging times,” he said.
“The Middle East conflict has triggered extreme fuel market volatility, with a direct and material impact on Australia Post.”
Mr Graham used the statement to advise that the service would also be adjusting their fuel surcharge for larger contracted corporate customers.
“Structural declines in letter volumes and intensifying parcels competition, driven by global marketplaces, have been further compounded by the largest oil shock on record.”
Mr Graham shared that with fuel prices stabilising, the fuel surcharge for Australia Post and StarTrack customers would be reduced from 19.5 per cent to 12.3 per cent.
“We are laser focused on ensuring our rates remain competitive in a very tight market,” he said.
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