(NEXSTAR) – After warning customers of an impending price hike for years, Costco has finally raised its annual membership fees.

The increased fees — which affect customers at all membership levels — officially went into effect on Sept. 1. New members at the Gold Star and Business levels now pay $65 per year (up from $60) while Executive members pay $130 (up from $120). Existing members will be charged the new rate upon renewal of their annual memberships.

As previously mentioned, Costco’s decision to increase its annual membership fees hasn’t been much of a secret. Former Costco CFO Richard Galanti had often spoken of an impending fee........

© The Hill