Federal announces price hike
Federal Corp. will increase its prices 3% to 5% in October.
The hike will impact its "full line of tires," say Federal officials.
"Skyrocketing prices of raw materials such as natural rubber, carbon black and other petroleum products and higher transportation costs all contribute to the price increase.
"The present price increase does not fully reflect Federal’s increase in cost and we are doing our best to absorb as much of it as possible."