3 Ways to Combat Rising Asphalt Prices
Pencil in your paving work now to lock in your rate and avoid paying more
Asphalt prices are rising, which means higher pavement and parking lot repair costs for you. The increase comes on the heels of rising raw material costs, specifically asphalt and concrete. According to the Associated General Contractors of America, the cost of all goods used in construction rose 8.8 percent from May 2017 to May 2018, the steepest annual increase in nearly seven years.
New trade restrictions have already had an impact on construction prices as raw materials become more expensive. Given past market trends and the promise of more tariffs, experts claim that the price surge is unlikely to stop anytime soon. While 2019 budgets should account for this change, there are still ways to combat rising asphalt and concrete prices right now. Here are our experts’ top three tips.
1. Schedule your projects now
If you needed a sign that now is the right time to schedule your pavement work, this is it. Rising asphalt prices mean that the project you’re currently putting off is only going to cost more in the future. Bite the bullet and find a national paving provider, such as Rose Paving, that you trust with your property, and get your asphalt order in before plants close for winter and the price skyrockets even further.
2. Winterize your parking lot
The winter cold is especially damaging for parking lots and pavement that haven’t been prepared. Low temperatures, snow, and ice can exacerbate cracks and result in asphalt-intensive repairs come spring. Simple preventative maintenance, like cracksealing and sealcoating, can thwart the winter wreckage and prevent nasty surprises from surfacing after you shovel off the snow.
3. Preventative maintenance
Milling and replacing an entire parking lot is never a cost-efficient option, but severe pavement problems are going to become even more expensive to fix as time goes on. Preventative maintenance is key for organizations striving to keep a low overhead. It ensures that your pavement never gets to that point. Preserve your lot for pennies per square foot to save your bottom line without compromising pavement quality.
Rose Paving is dedicated to working with every client to find the best solutions for their parking lot. Contact us today to discuss how this price hike affects you and learn how we can circumvent it together.