UPS recently announced a 4.9% rate increase for 2017 and now FedEx plans to raise rates by 3.9% starting in January. Rates for FedEx Ground and Home Delivery will increase by 4.9%.
An excerpt from Investopedia’s coverage on the rate increase says:
“Oil falls and shipping rates rise. Unfortunately this is the reality we live in, where both Fedex Corp (FDX) and United Parcel Service Inc (UPS) charging more for delivery in a period of low gas prices. Fedex announced their rate increases yesterday after market close; UPS announced rate increases earlier this month. The increases, which were expected, will take effect in January 2017.”