The price of U.S. postage stamps went up to 42 cents on May 12, 2008. This was an increase of one cent from the previous rate. A loss in revenue due to declining mail volume and an increase in fuel prices necessitated the increase.
The United States Postal Service makes adjustments to the price of postage stamps each May if needed. When the postage stamp rate adjusted from 41 cents to 42 cents, many customers were required to purchase an additional one-cent stamp to mail a letter if they wanted to use stamps bought at the old rate. Another option was the purchase of a Forever stamp, which is a stamp that retains its value regardless of postage rate increases.