How to Estimate the Cost of an Asphalt Project
Want to know how much the asphalt for your paving project will cost?
Check the price of oil. Asphalt is a byproduct of the crude-oil refining process. If the price of oil has spiked then it might mean that your asphalt project is going to more expensive. Given the limited amount of oil and greater worldwide demand waiting for prices to go down might not be the best course of action either.
The price of asphalt is fairly volatile. In 2008 the price of asphalt doubled in some states.
Indicators other than Oil
Asphalt is primarily used in road construction, which is another indictor of its price. Heavy road construction and light oil production means higher prices for asphalt.
Measuring the Price of your Project
Estimate the cost of your project by calculating the volume of asphalt required. Measure the asphalt pavement area and multiple length by the width. If you area is not a perfect square or rectangle then it might be best to break it up into square or rectangle sections. Then multiple the area by the thickness of your project. A 2-inch pour is typical for most asphalt projects. Do not forget to convert to feet.
Then multiple the cubic foot volume 145 pounds. Weight times price per unit will give you the cost of materials.