Asphalt prices, shortage push up shingles cost

Homeowners who plan to replace their roofs this year will face significantly higher costs, experts say. The skyrocketing price of petroleum last summer pushed the price of asphalt shingles up 57.5% in March 2009 from year-ago levels. In addition, road projects are demanding asphalt, which has created a shortage that has also kept prices higher. Bill Good, executive vice president of the National Roofing Contractors Association, said, "We're not foreseeing any big price increases" in the near future. "But we're also not seeing any big price drops