Area resident Valerie Scott expects to shell out close to $50 for stamps for graduation invitations for her son this week.

The recent 2-cent hike ” which brings the cost of first-class stamps to 41 cents ” hasn’t gone unnoticed by Scott.

“The prices are slowly going up,” she said. “It looks like these prices are jumping around.”

The higher price went into effect on Monday.

In addition to the increase, there is now a “forever stamp” that will remain valid for sending first-class mail even if there are future increases in postal rates.

The rate increase will help the U.S. Postal Service cover expenses and absorb the cost of fuel.

“(Nationwide) it costs the U.S. Postal Service $8 million if the price of gas goes up one cent,” said Sheba Martin, postmaster at the local post office. “That’s a lot of money for us right there.”

The U.S. Postal Service has raised rates more than a dozen times in the past 32 years.

Rates were last increased in January 2006, when the price of a first-class stamp was raised from 37 cents to 39 cents.

The Postal Service operates on a $69 billion annual budget and expects to finish $2 billion in the red.

The agency employs about 700,000 people and is funded by operating revenue.

“Our customers have been outstanding and patient with us,” Martin said. “We really haven’t had any negative response to the rate increase.”

” The AP contributed to this report.