WASHINGTON — The independent panel that oversees the U.S. Postal Service voted Thursday to deny the agency's request to increase the cost of mailing a letter by 2 cents, keeping first-class stamps at 44 cents.

Ruth Goldway, chairman of the Postal Regulatory Commission, suggested at a news conference that the problem with the proposal was more in the packaging than the plea.

In July, the Postal Service proposed raising first-class postage from 44 cents to 46 cents as part of a strategy for dealing with a worsening financial crisis. The request required the commission's approval, because the margin of increase was higher than the existing rate of inflation. But the five-member panel unanimously said no.

In light of the decision, the Postal Service has a number of options, including a legal appeal, filing a new special rate-increase request to the commission, or requesting a smaller rate hike that would be automatically approved for rising within the rate of inflation.

The Postal Service lost $3.8 billion last year, and agency officials were seeking other rate increases as well the basic stamp hike, including higher fees for periodicals and post cards.

Goldway said the requested rate adjustment was not due to recent recession, as indicated by Postal Service officials, but rather was an attempt to address long-term structural problems.

The decision was applauded by the Affordable Mail Alliance, a coalition of postal customers.

"The PRC today has helped countless businesses stay competitive and saved tens of thousands of jobs," said Tony Conway, an alliance spokesman.