Asphalt Roofing Materials Price Increased by 30%
Cause said to be high oil prices and massive tornadoes!
Most roofing manufacturers raise their prices each year by 3-8% on average, but the new asphalt shingle pricing increase is going to be big. This new increase in asphalt pricing at 30% is something out of the ordinary.
It’s been widely reported and discussed in various roofing circles that roof shingles manufacturers are drastically raising the prices of their roofing shingles. Some roofers report getting letters from their roofing suppliers that shingles prices are going up as much as 30% in the ensuing year.
Why the current Asphalt Shingle Pricing Increase?
This is a very good question and I will give roofing manufacturers’ and suppliers’ reasoning to the best of my knowledge. Basic premise here is that oil prices went up to and above $100 / barrel levels once again, just like back in 2008, and since asphalt shingles are made with asphalt, the cost of manufacturing asphalt roofing shingles went up. Additionally, transportation costs are up due to higher gasoline / diesel prices. It has now become very hard for shingle manufacturer’s to both make a quality product and remain profitable. The answer is to increase prices, but this time by a large margin as we see the asphalt single price increase in next 2 years.
What About Weather Effecting the Asphalt Shingle Pricing Increase?
Also adding to the asphalt single pricing increase is the multiple devastating tornadoes ravaging Southwestern Ontario. In Goderrich this year, there were many damaged roofs, which increase the demand for roofing materials. It will take a very long time before core businesses are back up and running. Here is what a roofing supplier has to say:
…Due to the natural disasters around the country the demand for roofing materials has now increased 30% as of May 23rd, and will continue to raise throughout the rest of the year, as well as the increase in oil, fuel and to cover the delivery charge…
Things to consider:
- Asphalt Pricing is Going up Each Year and this year it’s BIG!
- Asphalt pollutes our Environment and gets into our landfills
- Metal Roofing is a Permanent Solution to Re-Roofing Your Home
- Pricing for Metal and Asphalt May Soon be at Par
- Decrease Energy and Insurance Bills with Metal Roofing
- Lifetime non Pro-Rated Warranty on Metal Roofing
Save Money with Double AA Roofing Today!
Take Action Now! or Call our Team at 1-800-901-6884 unfortunately we will never see roofing prices go down, I have never seen it happen in any industry, but if you are going to spend the money. Do it smart, Do it once. Metal Roofing is a permanent solution to the asphalt shingle pricing increase.