This morning Amazon announced the price for its Prime service is going up $20 per year to $99. The price increase isn't a lot of money, considering what you get with the service, and most people (judging from Twitter, at least) won't take issue with the increase. At the end of the day, Amazon Prime at $99 can still be a tremendous value. Rick Broida has a breakdown of what you're getting for your money in his post, "Amazon Prime: Still a good deal at $99?"
With that said, if there happened to be a way to renew Prime at the current rate for another year, you'd likely do it.
The workaround involves disabling Amazon Prime auto-renew for your account, and purchasing a gift membership at the current price for Amazon Prime. But instead of having the gift card delivered the day you order it, schedule delivery for the day after your Amazon Prime subscription expires.
You can read more about how to take advantage of this method in the Slickdeals post.