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Why Are Asphalt Maintenance Prices Rising?

Why are asphalt maintenance prices rising so quickly? A number of factors are contributing - and they aren't going down again any time soon. Find out why in this article.

Judson Burdon
Posted by Judson Burdon on July 19

If you've been in the business for a while, or if you did your own asphalt maintenance a few years ago and you're surprised at how much more it is costing this year, you might be wondering: what is causing the recent run up in sealer and crackfiller pricing?

A number of factors are contributing to rising asphalt and sealer pricing.  First, the price of raw asphalt has increased almost 65% year to date.

In 2017 US domestic production of asphalt permanently decreased almost 10%.  Added to that permanent decrease was an explosion at Husky Energy's Superior, Wisconsin asphalt refinery, taking one of the major asphalt suppliers offline indefinitely.

 

What does this mean to you? 

  • Replacing asphalt has become even more expensive than before.  Asphalt is usually a property's second-largest single expense (after the roof) and now it is positioned to become the biggest expense.  
  • Repairing and maintaining asphalt has become a critical job to save money by keeping the foundation in good shape.  

 

If you are a property manager, start filling cracks immediately and don't let them get deep or spread too far so that potholes start and your asphalt's foundation erodes: this leads to the necessity of replacement.  Learn the steps you need to take to maintain parking lots yourself.

If you are a contractor, explain to your customers about the rising costs of raw materials and the fact that these are not temporary increases: the longer they wait to perform annual maintenance tasks, the more expensive the supplies are getting. 

In a volatile market like this one, procrastination doesn't pay!  Take care of your asphalt today.

 

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Topics: News

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