As oil prices hit a new high, increased costs are evident in every facet of our lives. Most people first notice the pinch to their pocketbooks as they’re filling up their gas tanks. For homeowners, the costs of general home maintenance and upkeep are certainly on the upswing as well. For those homeowners with asphalt shingle roofs considering a roof repair, more cost increases may be on the way.
The rising costs of roof repairs can be attributed to several issues. As with any business, transportation costs have greatly increased, meaning that transporting supplies and daily driving are taking a significantly larger chunk of roofing companies’ operating expenses. At WRC for example, we have held off on passing that increased cost of doing business on to the consumer.
Oil – A Roofing Company’s Double Burden:
However, roofing companies actually have a double burden to bear. Not only have their transport costs risen, but the cost of one of their main supplies is quickly increasing. Roofing companies rely on asphalt shingles to complete their work. Asphalt shingles are made up of several layers, including an inner reinforcing mat, hard asphalt and mineral coating, a mineral granule surface, and a mineral dust coating on the back. It takes two different kinds of asphalt to create a shingle: soft asphalt in the mat, and harder asphalt for the outer surfaces. Since asphalt is created from crude oil, the cost of asphalt shingles is directly tied to that of oil. As oil prices rise, so must the price of asphalt shingles.
Despite rising prices, asphalt shingles are still the most commonly used in roofing today. Even as they become more expensive, they’re still a great value and tend to cost less than other options like copper or slate. They wear well and are less expensive to replace as they age. Asphalt shingles are also available in a wide range of colors, shapes and sizes to fit any home.