Amazon Raises Prime to $99 per Year

Amazon has announced that it will raise the price of its Prime membership to $99 starting on June 14.

In an email to Prime members, Amazon identified rising fuel and transportation costs along with a growing stable of products eligible for the program's unlimited two-day shipping as factors in the price increase. Amazon Prime currently costs $79 per year.

New Prime members will begin paying the higher price on March 20, while existing members will begin renewing at $99 on April 17. It is the first price hike in Prime's nine-year history.

A price increase was first floated by the company during the most recent investor call following the company's fourth-quarter earnings report. The $20 price increase is on the lower end of what Amazon CFO Tom Szkutak discussed. Read more...