Industry News: How Do I Avoid The Asphalt Price Increase?

Industry News: How Do I Avoid The Asphalt Price Increase?

Rapid price increases have caused many property owners to reconsider the replacement and maintenance of their asphalt pavement. Being in the paving industry for 60+ years has its benefits; one of them is receiving industry updates so we can continue to offer 5-star quality work at a competitive price.

A&A Paving has proudly served in Chicagoland for over six decades, so we are leading experts with all things asphalt paving.

Many of our asphalt plants have shared with us that a large price increase will likely occur by mid-June. Ignoring the maintenance of your asphalt pavement isn’t an option—this will simply cost you much more in the long run.

We are here to help. Read our expert advice to get ahead of the curve and avoid the upcoming price increase, or you can watch our video here on why the price of asphalt is increasing in Chicagoland.

Why You Can Expect to See a Price Increase

Several factors have contributed to this summer’s inevitable price increase:

  • Due to COVID-19, the plants have not seen a price increase for over 2 years. Other industries, such as real estate, will also experience a significant price jump this summer.

  • The materials that comprise asphalt have all risen, which makes the product itself more expensive to produce. As paving contractors, the biggest cost of each job is the material. The higher the cost of the material, the higher the cost of the job.

  • The cost of labor at asphalt plants has also gone up.

  • As you’ve seen firsthand, fuel prices have increased all across the country. What does this mean to the paving industry? Manufacturers refine asphalt from oil. As the price of oil increases, the cost of the raw materials will also rise. Furthermore, we expect a significant reduction in the manufacturing of fossil fuels. This means—you guessed it—we will be left with a restricted supply of asphalt and you with inflated prices.

  • Suppliers have predicted a potential for asphalt shortage during the summer months—the busiest time of the year for paving contractors.

How Do I Avoid the Price Increase?

We are making the solution simple. If you sign your proposal with A&A Paving by June 15, we will hold to your current price and GUARANTEE no increase. This will allow you to schedule a cost-effective plan that will keep your pavement looking new and performing at an optimal level all year long.

At A&A Paving, we continually receive 5-star reviews and repeat business because we provide superior, award-winning asphalt service at every step.

Contact us today to lock in your proposal by June 15th and avoid the upcoming price increases.