As a blogger I always try to optimize my images size so that my website load time should not increase. Smush.it is a web service from Yahoo which provide you free service to smush your images. According to official website :
Smush.it uses optimization techniques specific to image format to remove unnecessary bytes from image files. It is a “lossless” tool, which means it optimizes the images without changing their look or visual quality. After Smush.it runs on a web page it reports how many bytes would be saved by optimizing the page’s images and provides a downloadable zip file with the minimized image files.
Here is an image which I compressed after using this website:
Since it was a small image so the difference in size is negligible, but if you will use a large image, Difference in size will be significant.
For WordPress blogger, you can also use smush.it wordpress plugin.
Do let us know any other web service if you know.
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I always post lots of images in my each post, so it will be very use full for me. Thank you so much!