Asphalt prices on the rise and increasing some business demand
For McClain, he’s just trying to save his community a little extra cash by laying asphalt himself. (WBMA)
BIRMINGHAM (WBMA) — Higher oil prices are feeding into abnormally higher prices for construction projects, specifically asphalt.
Oil is used in asphalt as a binder, and when crude oil prices go up so does the price of products that use petroleum like asphalt.
Birmingham area paving company Midsouth Paving and Pavecon said asphalt prices are three to four times higher now than they were at the start of the year.
Staff told us prices can fluctuate from week to week now.
Some paving companies said customers are booking jobs now in hopes of getting better deals before prices climb even further.
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Some jobs are having to be booked all the way out until the fall, but managers can only secure rates for about a month.
Those jobs can include parking lots and even HOA properties.
They told us as inflation, oil prices and transportation costs stay high, asphalt prices likely will too.
Leaders with the Alabama Asphalt Pavement Association said some county and city municipalities are holding off on bidding projects and resurfacing less miles.
The Alabama Asphalt Pavement Association works closely with the Alabama Department of Transportation.
They said ALDOT is working on projects as normal.
Eddie McClain knows the cost of filling potholes.
He is theHomeowners Association Vice President of Chandalar South Town Homes in Pelham and knows what it costs to pay professionals.
He said “it’s just not cost effective to get somebody to come out here and do this when you know they’re gonna charge you probably 300, 400, 500 dollars.”
For McClain, he’s just trying to save his community a little extra cash by doing it himself.
He said it's cheaper for him to buy a bag of asphalt from a home improvement store than pay a paving company.
McClain said he's filled about a dozen potholes in his community and said “I enjoy it".