Illustrating that this is one of the best times in the past decade to invest in transportation projects, state departments of transportation across the country are reporting the lowest August prices for asphalt and related pavement materials since 2007.
That makes the cost state DOTs are paying for asphalt – one of their most widely used materials in building or maintaining roadway infrastructure – lower now than during the weakest times for the economy during the 2008-09 recession.
An Alabama DOT price index lists its performance grade asphalt this month at $1.43 a gallon, up from May's low of $1.34 but still the lowest August price since 2007. Last year at this time, that DOT was paying $1.95 for a gallon of PG asphalt.
"Since August is one of the busiest months for roadway infrastructure projects across the United States, the fact that DOTs are seeing the lowest asphalt prices for this month since 2007 means they can stretch their project budgets to cover more work," said Bud Wright, executive director of the American Association of State Highway and Transportation Officials.
