The price increase will go into effect on Jan. 6, 2020, and will cost an average of 4.9 percent more for FedEx Express shipping. The company’s Ground and Home Delivery shipping rates will also increase about 4.9 percent with FedEx Smart Post rates also going up.
Freight shipments from FedEx will also go up about 5.9 percent for shipments within the U.S., including Alaska, Hawaii, Puerto Rico, and the U.S. Virgin Islands, as well as between the U.S. and Canada.
FedEx Freight shipments moving within Canada, Mexico, and the contiguous U.S. and Mexico will also see an increase in 2020.
For packages that are oversized or require additional handling by FedEx under the company’s Express, Ground, and Freight services will see a surcharge increase effective Jan 20, 2020. The company also said it will impose changes to its fuel assessment charge for Express and Ground services as well as a minimum charge for some Freight Capacity Load services.
The company’s 2019 holiday rates will not change unless it is on shipments that are oversized, unauthorized or require additional handling, FedEx said.
Shares of FedEx stock were down 1.07 percent as of 11:14 a.m. ET on Tuesday.