AKRON, OHIO - Goodyear Tire & Rubber Co. is raising prices once again. Effective May 1, Goodyear will increase prices on all its replacement passenger and light truck tires in North America up to 8 percent.

A Goodyear spokesman said the increases were necessary because of increasing raw material costs, reported Modern Tire Dealer.

Like many other tiremakers, this is just the latest price increases Goodyear Tire & Rubber Co. has announced. Prior to this, Goodyear raised its commercial truck tires on April 1. The increases applied to all the company's brands, plus its tread rubber.